"Coinbase CEO Brian Armstrong challenged skepticism earlier today toward Bitcoin from the head of France's central bank during a World Economic Forum panel in Davos. Armstrong took a public stand on stage arguing that the asset's lack of centralized control makes it more independent than traditional monetary authorities. The exchange unfolded after Banque de France Governor François Villeroy de Galhau questioned Bitcoin's credibility, saying he places more trust in independent central banks with democratic mandates than in what he described as "private issuers" of Bitcoin."
"Armstrong pushed back, emphasizing that BTC has no issuer at all. He described it as a decentralized protocol that is not controlled by any country, company or individual, adding that this structure makes it "even more independent than central banks." "Bitcoin doesn't have a money printer," Armstrong said. "It's more independent""
"He said Bitcoin's fixed supply and lack of a "money printer" provide a check on government overspending, likening its role during periods of uncertainty to gold's historical function. Villeroy de Galhau maintained that trust ultimately comes from central bank independence paired with accountability to citizens."
Bitcoin has no issuer and functions as a decentralized protocol not controlled by any country, company, or individual. Its fixed supply of 21 million and lack of a money printer limit inflationary expansion and provide a check on government overspending. Decentralized alternatives can act as monetary counterweights to state-issued currencies and resemble gold as stores of value during uncertainty. Confidence in monetary systems is often tied to central bank independence and accountability to citizens. A long-term valuation thesis cites rising global demand and fixed supply as drivers toward a potential $1,000,000 Bitcoin by 2030 despite ongoing short-term price volatility.
Read at Bitcoin Magazine
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