Ripple CEO Sparks Bitcoin Reserve Feud

Ripple CEO Brad Garlinghouse has sparked controversy in the cryptocurrency community by opposing the idea of a Bitcoin reserve. The long-standing feud between Bitcoin advocates and XRP fans has escalated in recent weeks, with accusations of secret lobbying and attempts to undermine Bitcoin's dominance.

Garlinghouse has been vocal in his criticism of Bitcoin maximalism, arguing that it hinders the progress of the broader cryptocurrency industry. In a recent statement, he described maximalism as the "enemy" of crypto progress, further fueling the debate.

Bitcoin proponents have not taken kindly to Garlinghouse's remarks. Pierre Rochard, VP of research at mining giant Riot Platforms, dismissed Ripple as a "failed company" seeking a bailout. Michael Goldstein, president of the Satoshi Nakamoto Institute, accused Ripple of spending millions on "massive propaganda campaigns" to "destroy" Bitcoin.

The odds of the US government creating a national Bitcoin reserve in 2025 stand at 55%, according to some sources. However, the recent controversy surrounding Ripple's stance on Bitcoin may impact the likelihood of such an initiative.

The cryptocurrency community remains divided on the issue, with both sides presenting compelling arguments. As the debate continues, it remains to be seen how the feud between Bitcoin advocates and XRP fans will play out and what impact it will have on the broader cryptocurrency market.