CEO Coinbase Explains Why Bitcoin Is a Meme Coin

In a recent discussion, Armstrong noted that “Bitcoin is somewhat of a meme coin,” emphasizing its cultural and technological significance. His remarks come amid a surge in meme coin speculation, including the pump-and-dump activities surrounding tokens like LIBRA, TST, and BROCCOLI. While some analysts question the long-term viability of these assets, Armstrong believes they represent a unique blend of cultural expression and technological innovation.

Meme Coins as a Reflection of Tokenized Innovation

Despite not actively trading meme coins himself, Armstrong acknowledges their impact, likening them to the viral trends that shaped the early internet. He cited Dogecoin as a prime example and suggested that even Bitcoin shares characteristics of a meme coin.

Moreover, he highlighted the potential role of meme coins in the broader tokenization movement, envisioning their application in areas such as digital ownership of posts, images, videos, assets, and even personal identities.

While acknowledging the presence of scams and low-quality meme projects, Armstrong urged the crypto community to remain open-minded. He believes meme coins could evolve into valuable tools for innovation and value creation over time. His comments coincide with Coinbase’s launch of its own meme coin, FROC.

A Free-Market Approach to Meme Coins

As a trusted exchange, Coinbase embraces a free-market approach to meme coins. Armstrong outlined the company’s strategy: enabling access to legal tokens while equipping users with the necessary information to make informed decisions. “If customers want it, and it’s legal, they should have the choice,” he stated.

At the same time, Armstrong stressed that Coinbase does not tolerate scams or insider trading. He issued a stern warning: “This is illegal, and you will go to prison. Don’t try to get rich quick—focus on creating real, lasting value.”

Looking ahead, Armstrong envisions meme coins playing a key role in empowering creators, tracking trends, and driving blockchain adoption. He called on the community to weed out bad actors, support genuine innovators, and focus on delivering meaningful products to onboard the next billion users to blockchain technology.

Meanwhile, recent pump-and-dump schemes involving TST and BROCCOLI tokens have raised concerns in the market. In response, Binance founder Changpeng Zhao (CZ) has expressed willingness to compensate affected users.