Bitcoin unexpectedly moved to the center of high-level policy debates this week as global leaders gathered in Davos, highlighting a clear change in how digital assets are treated at the World Economic Forum.
What was once a fringe topic is now being discussed as a direct challenge to the foundations of modern monetary systems.
Key Takeaways
Bitcoin was debated directly at Davos as a monetary system, not just a technology
Central bankers and crypto leaders openly clashed over who controls money
Policymakers are increasingly forced to engage with Bitcoin rather than dismiss it
Bitcoin enters the heart of the Davos debate
The shift became evident when Brian Armstrong, head of Coinbase, openly debated monetary authority with François Villeroy de Galhau, France’s central bank chief. The exchange focused on a fundamental issue rarely addressed so directly at Davos: who truly controls money in a world where digital networks can operate without states or institutions.
Villeroy de Galhau defended the traditional system, arguing that independent central banks carry democratic legitimacy and public accountability. From that perspective, government-backed monetary frameworks remain more trustworthy than decentralized alternatives. Armstrong responded by shifting the argument away from politics and toward structure, stating that Bitcoin’s strength lies in the fact that it has no issuer at all. No government, company, or individual controls its supply or rules.
A break from past World Economic Forum narratives
This moment stood out at the World Economic Forum in Davos because Bitcoin itself, not just blockchain technology or regulated digital currencies, became the subject of serious debate. In previous years, discussions largely centered on financial tools governments could oversee, such as central bank digital currencies. Bitcoin’s challenge to state control over money was usually kept at arm’s length.
JUST IN: COINBASE CEO JUST SCHOOLED FRANCE'S CENTRAL BANK GOVERNOR ON #BITCOIN AT DAVOS
"BTC DOESN'T HAVE A MONEY PRINTER AND IS MORE INDEPENDENT" LEGEND ? pic.twitter.com/OT80pYs6NZ
— The Bitcoin Historian (@pete_rizzo_) January 21, 2026
That dynamic shifted at WEF 2026. Journalists pressed leaders with more direct questions, forcing clearer answers. During a panel on crypto’s future, Armstrong was asked whether the United States could realistically pursue a strategic Bitcoin reserve. He avoided speculative language, describing Bitcoin instead as a global monetary network that already exists independently of government approval.
From speculation to monetary infrastructure
Armstrong later expanded on this idea, noting that many people treat today’s financial system as permanent, even though its modern form only dates back to 1971, when the U.S. moved away from the gold standard. His point was that monetary systems evolve, often in response to stress and loss of trust.
Away from the main stage, Armstrong continued criticizing traditional finance, accusing banking lobby groups of using regulation to suppress crypto competition, particularly around stablecoins and interest-bearing products. He argued that stalled legislation is less about protecting financial stability and more about defending entrenched business models.
Why this moment matters
Although much attention in Davos remained on the expected appearance of Donald Trump, the Bitcoin discussion revealed a deeper undercurrent. Growing concerns about debt, reserve management, and fiat currency durability are pushing policymakers and investors to reconsider alternatives. Bitcoin is increasingly being discussed alongside gold, not as a speculative trade, but as a long-term monetary asset.
Taken together, the conversations in Davos point to a clear shift. Bitcoin is no longer an outsider ignored by influential institutions. It is now being debated inside them, sometimes uncomfortably, as a system that challenges long-standing assumptions about money itself.
