Armstrong's comments come in response to a recent report by the Financial Times that the two countries are starting preparatory work on a common currency.
The crypto community is speculating about the potential impact of the project on the industry and the potential for a surge in the price of SHIB past $0.001.
The report, which used data from social media platforms and analyzed it with Artificial Intelligence (AI), ranked cryptocurrencies according to users’ sentiments and found that Cardano has a more prominent presence in these regions than Solana, Ethereum, Avalanche, and others.
Despite the initial drop, Bitcoin regained some of its value, but it remains to be seen how this latest development will impact the market in the long term.