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 push beyond $22,000 has triggered another avalanche of liquidations across digital asset exchanges, with $250 million in crypto liquidations reported in the past 24 hours.
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.
This unmoved supply could signal a shift towards Bitcoin becoming a digital gold and store of value, indicating a growing level of long-term confidence and stability among investors.
"Bitcoin miners are preparing for a significant increase in difficulty, with estimates indicating a potential jump of around 10%. The increase is attributed to the return of hashrate online after the recent storm and the deployment of more efficient mining machines. The industry still faces tough economics, with energy costs…