2025-03-03
President Trump signed executive order
to initiate crypto reserve that includes BTC, ETH, SOL, XRP, and ADA.
The executive order President Trump
signed directing the Working Group on Digital Assets to initiate on a
Crypto Strategic Reserve that includes BTC, ETH, XRP, SOL, and ADA.
Famous
economist and ardent Bitcoin critic Peter Schiff has come out again on X after
Donald Trump announced plans to establish U.S. crypto strategic reserve. But
this time, he shifted his focus from Bitcoin to attack XRP instead.
“I get the rationale for a Bitcoin
reserve. We have a gold reserve. Bitcoin is digital gold, which is better than
analog gold. So let's create a Bitcoin reserve too. But what's the rationale
for an XRP reserve?” Schiff said.
However,
Charles Hoskinson, founder of Cardano, defended XRP by, saying that:
“Because XRP is
great technology, a global standard, survived for a decade through many harsh
cycles, and has one of the strongest communities. I think the president made
the right decision”.
On the other hand, Brian Armstrong,
Coinbase CEO, suggests an interesting point. First to start with creating purely
Bitcoin reserve or expand into crypto index fund in the future.
This is what Brian Armstrong said:
“Excited to learn more. Still forming
an opinion on asset allocation, but my current thinking is:
1. Just Bitcoin would probably be the
best option - simplest, and clear story as successor to gold.
2. If folks wanted more variety, you
could do a market cap weighted index of crypto assets to keep it unbiased.”
