Coinbase CEO Explains Crucial Thing About Crypto Wallets

Brian Armstrong, the chief executive officer (CEO) at the largest U.S.-based publicly-traded cryptocurrency exchange, Coinbase, has taken to his social media account to make an important statement to the global community.

He spoke about crypto wallets, their actual purpose and importance, which many users underestimate. The crypto community supported the Coinbase CEO in the comments.

Armstrong’s crucial statement

The Coinbase CEO reminded the community that crypto wallets are not just for holding one’s coins; there is something much bigger than that to these devices. Armstrong’s statement is not so much about crypto wallets as about cryptocurrency itself, and wallets come merely as an additional but essential tool here.

For countries with failing economies, Armstrong tweeted, crypto wallets play the role of an “exit ramp” that is “available to anyone.”

Armstrong has endorsed crypto wallets as a borderless financial tool that gives users in unstable economies, such as South Africa, the U.K. and the EU, with their recent economic stagnation, to access crypto, as well as dollar-backed stablecoins, and use them on global markets without any intermediaries. Besides, now that inflation is greatly reducing the purchasing value of many fiat currencies, Bitcoin remains a stable store of value, according to many experts. Many investors are converting their savings into BTC to prevent their savings from crashing to zero.

Gold and silver surging, but what about Bitcoin?

Several crypto experts, who have been stacking Bitcoin, have recently been talking about another promising asset that has been going up quickly — silver. The author of the book “Rich Dad Poor Dad,” Robert Kiyosaki, and an early Bitcoin adopter, Jeremie Davinci, have been tweeting about it recently.

Kiyosaki expects silver to skyrocket to $100 soon and is currently stocking up on it, and in November he even sold some of his Bitcoin to buy more silver. Davinci tweeted this week, and while gold and silver have been surging to new highs, so will Bitcoin unless the U.S. economy improves soon.

The reason for these price surges, per Kiyosaki, is “the dollar is dying.” Bitcoin is next to skyrocket, he stated, “if they don’t do something.”

At press time, Bitcoin is changing hands at $92,370 per coin after surging above the $124,000 all-time high last year.