Coinbase CEO Brian Armstrong expressed his opinion on why taking an anti-crypto stance is a “really bad political strategy” for American politicians aiming for electoral success in 2024.
Coinbase CEO Brian Armstrong Criticizes Anti-Crypto Stance in Politics
Armstrong's comments came in response to United States Senator Roger Marshall's admission that the American Bankers Association (ABA) played a role in drafting the Digital Asset Anti-Money Laundering Act, popularly referred to as the “crypto ban” bill.
Armstrong outlined five key reasons that support his argument against an anti-crypto position in politics.
Senators Warren and Marshall now lobbying for big banks 🙃
Being anti-crypto is a really bad political strategy going into 2024
* 52m Americans have used crypto
* 38% of young people say crypto can increase economic opportunities
* just 9% of Americans satisfied with the… https://t.co/diawa3LOX5— Brian Armstrong 🛡️ (@brian_armstrong) December 19, 2023
The first reason highlighted is that 52 million American citizens currently own cryptocurrencies. Secondly, Armstrong noted that 38% of young people believe cryptocurrency has the potential to increase economic opportunities.
The third point focuses on the impressive performance of cryptocurrency prices, which have increased by 90% year-to-date.
Additionally, Armstrong emphasized the importance of supporting crypto-friendly policies, stating that only 9% of Americans are satisfied with the current financial system.
*This is not investment advice.
