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Ripple CEO Urges U.S. to Adopt Multi-Asset Reserve Amidst Bitcoin Race

Coin WorldWednesday, Jan 29, 2025 6:02 pm ET

1min read

Ripple CEO Brad Garlinghouse has called for the U.S. to establish a multi-asset strategic reserve, rejecting the idea of a Bitcoin-only reserve. Garlinghouse's comments come as the Czech Republic moves to adopt a Bitcoin reserve, and Senator Cynthia Lummis urges the U.S. to act on its own Bitcoin reserve proposal.

In a recent development, the Czech Republic plans to adopt a Bitcoin reserve. Senator Lummis is urging the U.S. to act on its own Bitcoin reserve proposal before the Czech Republic does. Lummis’ proposal has inspired other countries to consider creating their own Bitcoin reserves, but the U.S. has not yet implemented the plan.

Garlinghouse, however, believes that a multi-asset reserve would be more beneficial for the U.S. He argues that a diverse portfolio of digital assets, including Ripple's XRP, would provide better diversification and potential returns. Garlinghouse's comments come as Ripple continues to push for wider adoption of its technology and digital assets.

The Czech Republic's plans to adopt a Bitcoin reserve have been inspired by Donald Trump's crypto policies. Meanwhile, Arizona and Utah have recently passed Bitcoin bills, pushing forward progressive financial policies. The Czech National Bank has revealed plans to allocate over $7.3 billion, or 5% of its balance, into Bitcoin.

Garlinghouse's call for a multi-asset strategic reserve comes as the U.S. continues to grapple with the potential implications of digital assets on its financial system. While some lawmakers, like Senator Lummis, have been vocal in their support of Bitcoin, others have expressed concerns about the volatility and potential risks associated with digital assets.

The U.S. has not yet established a strategic reserve for digital assets, but Garlinghouse's comments suggest that the debate over the potential benefits and risks of digital assets is far from over. As the Czech Republic moves forward with its plans to adopt a Bitcoin reserve, the U.S. may face increasing pressure to establish its own digital asset reserve, whether it be multi-asset or Bitcoin-only.

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