Brian Armstrong: Brazil and Argentina Should Use BTC as a Common Currency

Reading time: < 1 minute

Coinbase CEO Brian Armstrong has just said that Bitcoin is “the right long-term bet” for Brazil and Argentina, which are considering creating a common currency.

The Financial Times has recently written that Brazil and Argentina plan to create a single currency to reduce dependence on the US dollar and stimulate regional trade.

According to FT estimates, the new union will cover approximately 5% of global GDP and will be the second largest in the world after the EU (14%).

Armstrong has added:

“I wonder if they will consider switching to bitcoin. That would probably be the right long-term bet.”