Coinbase CEO: Bitcoin Only for US Crypto Reserve

Coinbase CEO Brian Armstrong has expressed his belief that the recently announced US crypto strategic reserve should exclusively consist of Bitcoin (BTC). In a statement on a social media platform, Armstrong suggested that having "just Bitcoin" in the reserve would be the best option.

Armstrong argued that Bitcoin has the simplest and clearest story as a successor to gold compared to other crypto assets. He also proposed that if more variety is desired, a market-cap-weighted index of crypto assets could be used to maintain an unbiased approach.

President Donald Trump confirmed the establishment of a US crypto strategic reserve, which will include Bitcoin, Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). The reserve aims to elevate the crypto industry and make the US the "crypto capital of the world."

David Sacks, the White House artificial intelligence and crypto czar, has announced that more information on the US Crypto Strategic Reserve will be provided during the upcoming White House Crypto Summit on March 7th.

Ripple CEO Brad Garlinghouse responded to Armstrong's position, stating that he is glad Trump recognizes the existence of a multichain world. Garlinghouse emphasized the importance of working together in the crypto industry to achieve its goals and expressed appreciation for Trump's vision of a government digital asset reserve that represents the industry.