Ripple CEO Sparks Crypto Debate: Bitcoin-Only vs Multi-Asset US Reserve

Ripple's CEO, Brad Garlinghouse, has sparked a heated debate within the cryptocurrency community by advocating for a multi-asset strategic US reserve, rejecting the idea of a Bitcoin-only reserve. Garlinghouse believes that a diversified reserve would be more representative of the industry and promote collaboration rather than unnecessary competition.

Garlinghouse's stance comes in response to US President Donald Trump's recent executive order proposing the creation of a strategic national digital assets stockpile. Many expect this reserve to include Bitcoin, the world's largest and oldest cryptocurrency by market cap. However, Garlinghouse argues that a reserve focused solely on Bitcoin would not be in the best interest of the industry.

The debate has intensified as crypto industry figures have begun criticizing Ripple's push for a multi-coin national digital assets stockpile. Pierre Rochard, Vice President of Research at Riot Platforms, accused Ripple of being the "biggest obstacle" to a US Strategic Bitcoin Reserve, as it backs the inclusion of multiple coins, including XRP.

Meanwhile, lawmakers in Washington and at the state level have been preparing for what they are terming a "strategic Bitcoin reserve." There are at least a dozen BTC reserve-related bills at different stages in states like Massachusetts, Pennsylvania, Kansas, New Hampshire, Wyoming, Ohio, North Dakota, South Dakota, and Texas. The success of these bills could attract institutional investors and lead to a rapid price appreciation in the BTC price.

As the debate surrounding the US digital asset stockpile continues, it remains to be seen whether a multi-asset reserve or a Bitcoin-only reserve will ultimately be established. The outcome of this debate could have significant implications for the cryptocurrency industry and the broader financial landscape.