Armstrong Backs Bitcoin as Sole Choice for U.S. Crypto Reserve Amid Industry Debate

Coinbase CEO Brian Armstrong believes that if the U.S. were to establish a crypto reserve, Bitcoin should be its primary asset, likening it to a modern successor to gold.

While he acknowledged that a broader basket of cryptocurrencies could be an alternative, he argued that Bitcoin alone offers the clearest and most straightforward approach.

His remarks were a response to Donald Trump’s recent announcement of a proposed Crypto Strategic Reserve, which would include Bitcoin, Ethereum, Solana, XRP, and Cardano. Trump stated that his crypto working group had been instructed to move forward with the initiative, though details remain unclear.

Arthur Hayes, co-founder of BitMEX, dismissed the announcement as lacking substance, questioning how the U.S. government would fund such a reserve without congressional approval or a significant rise in gold prices.

Meanwhile, Binance founder Changpeng Zhao (CZ) took a more optimistic stance, urging the community to focus on long-term industry growth and suggesting that additional cryptocurrencies could be added over time.

The debate over whether the U.S. should adopt a Bitcoin-only strategy or diversify its crypto holdings remains unresolved. Further policy insights are expected during the upcoming White House Crypto Summit on March 7.