TechFlow, June 4 — According to Decrypt, Coinbase CEO Brian Armstrong warned that if the U.S. Congress fails to address the $37 trillion debt issue, Bitcoin could replace the U.S. dollar as the world's reserve currency. As fiscal pressures grow following the passage of Trump-backed "Magnificent Act" by House Republicans in May, interest in Bitcoin has increased. States such as New Hampshire and Arizona have begun stockpiling Bitcoin to hedge against dollar depreciation. Six Nobel economists have cautioned that the bill could further exacerbate debt and inequality issues. Armstrong said: "I love Bitcoin, but a strong America is also very important for the world. We need to get our finances under control."
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