A new debate has emerged in the crypto world following U.S. President Donald Trump’s recent executive order, which addresses the creation of a "digital asset strategic reserve."
Although the order doesn’t directly mention Bitcoin, it underscores the U.S.’s intention to bolster its dominance in digital finance while also ruling out Central Bank Digital Currencies (CBDCs). The proposed reserve has sparked controversy, particularly due to claims that Ripple and its native token, XRP, are actively lobbying against it.
Pierre Rochard, VP of Research at Riot Platforms, has publicly accused Ripple of working against a Bitcoin-centric reserve, suggesting that Ripple prefers a more diversified reserve that could include XRP and other tokens. He further criticized the company’s past lobbying efforts, particularly targeting Bitcoin mining and environmental concerns, which have raised questions about Ripple’s strategy in Washington.
Ripple CEO Brad Garlinghouse, however, defended the company, arguing that their efforts align with U.S. interests in promoting innovation. He dismissed claims of opposing a Bitcoin reserve, suggesting that their stance actually helps strengthen the idea of a crypto reserve that could also include Bitcoin.
The conflict intensified when Rochard questioned Garlinghouse’s personal involvement with XRP, hinting at a potential conflict of interest. Rochard also pointed out Ripple’s broader efforts to shift the narrative away from Bitcoin, promoting a diversified crypto reserve instead. This approach, according to Rochard, diverts attention from the core goal of maintaining Bitcoin as the primary asset in a strategic reserve.
Ripple’s critics, including Ryan Selkis from Messari, have voiced similar concerns, arguing that the push for XRP’s inclusion is misguided. They maintain that Bitcoin’s unique role in the market makes it the only logical choice for such a reserve, further emphasizing the ongoing tension between Ripple and Bitcoin advocates.
As discussions continue, the fate of the U.S. digital asset reserve and Ripple’s role in it remain uncertain. The outcome will likely shape the future regulatory landscape, with implications for both Bitcoin’s position in the financial system and Ripple’s broader strategy in the crypto ecosystem.
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