Coinbase and Gemini Executives Push for Bitcoin as U.S. Reserve Asset as Stocks Surge

Executives from Coinbase and Gemini have expressed strong support for Bitcoin as the sole cryptocurrency suitable for inclusion in a U.S. reserve asset strategy. Coinbase CEO Brian Armstrong and Gemini co-founder Tyler Winklevoss both emphasized that Bitcoin is the most fitting digital asset for a strategic reserve due to its simplicity and established status as a successor to gold. Armstrong and Winklevoss are set to attend a White House summit on cryptocurrency, where the topic of a U.S. reserve asset strategy will be discussed. The summit, hosted by the Trump administration, aims to elevate the cryptocurrency industry and establish the U.S. as a leader in digital assets.

Armstrong and Winklevoss both highlighted the importance of Bitcoin's simplicity and its role as a successor to gold. Armstrong stated that Bitcoin has the "simplest, and clear story as successor to gold," while Winklevoss, a vocal Trump supporter, said that only Bitcoin meets the criteria for a strategic reserve. The summit will also address banking issues faced by the crypto industry, including pressure from previous administrations on banks to restrict services to crypto companies. Coinbase Chief Policy Officer Faryar Shirzad noted that the summit marks an exciting moment for the industry, as countries around the world are moving aggressively to become leaders in this space.

Winklevoss stated that although numerous cryptocurrencies are available for trading on Gemini, they fail to satisfy the more rigorous standards needed for a reserve asset. “An asset must be a reliable currency that has demonstrated its value over time, such as gold,” he remarked. Armstrong concurred, stating that Bitcoin is probably the most favorable choice because of its ease of use and its role as a successor to gold.

While Armstrong and Winklevoss advocate for a Bitcoin-only reserve, Armstrong suggested that if the U.S. government wanted to include other assets, it could use a market cap-weighted index. This approach would allow selection based on market size rather than subjective criteria. Gemini’s Cameron Winklevoss, Tyler’s twin and co-founder, suggested that Bitcoin and possibly Ether (ETH) could qualify as reserve assets. “Perhaps Ethereum—serving as both digital gold and digital oil—parallels America’s physical reserves, such as gold stored in Fort Knox and the NY Fed, and oil in the Strategic Petroleum Reserve,” he stated. He also suggested that instead of actively buying XRP, ADA, and SOL, the U.S. should focus on stockp