Bitcoin’s big moment could come within the next decade, when crypto becomes the backbone of a new financial system – and potentially, a new world order.
That’s the bold prediction from Coinbase CEO Brian Armstrong, who spoke of America’s “slow-decline” in a recent interview with popular podcaster Tim Ferris.
“The main thing I’ve been thinking about a lot is Ray Dalio’s recent book – ‘Principles For a Changing world order‘,” he said.
“I thought he did a really good job of looking back at history and teasing apart some of these patterns – and I found the book convincing. He’s trying to base it on the facts of history.”
America’s falling empire?
Whilst Armstrong doesn’t believe the United States is in danger of rapid collapse, he does think the country is in “slow decline”.
“That part seems pretty likely to me,” he said.
“You see all of these tell-tale signs of increasing polarization. (The) media starts to get more polarized and captured by various political organizations. We’re seeing higher inflation obviously and that’s worrisome. You can kind of go on down the list.”
Armstrong says he believes the world is headed for a crash similar to the Global Financial Crisis in 2008.
“So I don’t think it’ll be massive, you know, the US isn’t just going to fall apart overnight, but I do think it’s in slow decline and so it raises a lot of interesting questions about what is the next world order?
“Is that China? Is it something that’s going to be more decentralized and internet-based?”
Bitcoin’s big moment?
Armstrong says Bitcoin and crypto will have a big part to play in shaping what the future looks like.
“We really are building a new economy – the crypto economy,” he said.
“It’s more global and decentralized and I think a lot of people were thinking in this current macro environment when we saw high inflation – you know – maybe people will go to Bitcoin as the digital economy – and they didn’t”
“Bitcoin went down, along with the broader economy. So it seems like people are still treating Bitcoin as a growth tech stock equivalent or something.
“But my guess is that’s going to change in the next five years or 10 years … and we will start to see the crypto economy start to become, maybe over the next 20 years, the main thing.
“It’s like in the way that e-commerce back 20 years ago was sort of a side-show and now it’s the main thing. And I think that will happen with crypto too.”
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