Trump's Crypto Reserve: Bitcoin, Ethereum, and XRP Spark Debate
1min read The U.S. government's decision to establish a strategic cryptocurrency reserve has sparked debate among industry participants, with particular focus on the inclusion of XRP. On March 2, U.S. President Donald Trump announced that the reserve would hold Bitcoin, Ethereum, Solana, Cardano, and XRP.
While many in the crypto industry welcomed the initiative as a step toward broader adoption, others questioned the rationale behind XRP's inclusion. Bitcoin maximalists, who have long advocated for a Bitcoin-only reserve, were particularly displeased with the announcement.
Peter Schiff, a prominent economist, gold advocate, and Bitcoin critic, took to Twitter to express his doubts about XRP's inclusion. While he acknowledged the reasoning behind a government-backed Bitcoin reserve, he struggled to see the justification for an XRP reserve. Schiff asked, "Why does the U.S. government need a strategic reserve of XRP? There are a lot of valuable assets that the U.S. government doesn't hold in reserve. What's so special about XRP?"
Schiff's comments sparked a heated discussion, with strong reactions from supporters and skeptics of XRP's inclusion. Members of the XRP Army defended the decision, highlighting XRP's long-standing presence in the market and its potential role in global financial infrastructure. Cardano founder Charles Hoskinson also weighed in, arguing that XRP's technology, resilience through market cycles, and strong community made it a reasonable choice.
Ripple CEO Brad Garlinghouse addressed the announcement directly, focusing on the broader implications of the strategic reserve. He emphasized the importance of industry collaboration and regulatory clarity, reiterating his stance that a multichain ecosystem would benefit the entire sector. Garlinghouse stated, "Maximalism is the enemy of the industry's progress," and stressed the need for continued dialogue with policymakers.
While the crypto industry remains divided on XRP's role in the strategic reserve, the debate highlights the growing influence of digital assets in global finance. As governments and central banks increasingly recognize the potential of cryptocurrencies, the establishment of a strategic reserve signals a significant step toward broader adoption and integration.
