Coinbase CEO’s Hot Take: Bitcoin Is Basically A ‘Meme Coin’
Brian Armstrong, CEO of Coinbase, suggested that Bitcoin could be viewed as “somewhat of a meme coin,” emphasizing that its value stems from collective belief rather than inherent worth. He compared Bitcoin to the US dollar, noting both rely on societal trust for their value. Armstrong highlighted the rise of meme coins like Dogecoin and Shiba Inu, which gained popularity despite limited utility, driven by social media and celebrity endorsements. Despite this comparison, Bitcoin remains the most recognized cryptocurrency, leading in institutional adoption and investment strategies. Its legitimacy is bolstered by trust from major financial firms and its capped supply of 21 million coins. Armstrong's remarks have sparked debate on how cryptocurrencies derive their value, with some critics arguing it undermines Bitcoin's status as “digital gold.”
