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Coinbase CEO urges Bitcoin legal tender for Brazil, Argentina — Reaction

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As Brazil and Argentina started preparatory work for a potential common currency, Coinbase CEO Brian Armstrong floated the idea of the two countries moving to Bitcoin (BTC).

This sparked various discussions over the viability of BTC as a national currency. On Jan. 22, the two South American countries announced their preparations to discuss a plan for a common currency that will run parallel with the Argentine peso and the Brazilian real.

The move could potentially create the second-largest currency bloc in the world. As the news broke, Armstrong took to Twitter to suggest that BTC may be the right choice for the project.

The Coinbase CEO described BTC as the “right long-term bet” and wondered if the two countries would consider it. Global Macro Investor founder and CEO Raoul Pal opposed the idea.

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