‘Bitcoin reserve or nothing’ — Ripple slammed for pushing multi-asset reserve
2025-01-24
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The Bitcoin community is criticizing Ripple for advocating a multi-coin strategic reserve in the US instead of a Bitcoin-only reserve, sparking heated debate within the crypto space.
Bitcoiners have accused Ripple of being the “biggest obstacle” to a US Strategic Bitcoin Reserve due to it actively promoting the inclusion of multiple coins, including XRP XRPUSD.
On Jan. 16, The New York Post reported that Trump is receptive to the idea of setting up a strategic reserve comprising US-based tokens such as USD Coin USDCUSD, Solana SOLUSD and XRP.
The idea, largely supported by Ripple CEO Brad Garlinghouse, has spurred a major debate in the community, with many urging that no other coin than Bitcoin BTCUSD has a place on the US government’s balance sheet.
Garlinghouse confirms pushing a diversified crypto reserve
Riot Platforms’ research head, Pierre Rochard, took to X on Jan. 23 to refer to Ripple as the “biggest obstacle for the Strategic Bitcoin Reserve.”
He highlighted Ripple’s heavy political lobbying and active involvement in building central bank digital currencies (CBDC).
Ripple’s Garlinghouse jumped on Rochard’s thread to confirm his support of a diversified crypto reserve rather than a Bitcoin-only one.
“Our efforts are actually increasing the likelihood of a crypto strategic reserve — which includes Bitcoin — happening,” Garlinghouse wrote.
Rochard is not alone in slamming Ripple
Many in the community have joined the debate on whether the US should create a multi-asset crypto reserve, with Bitcoiners criticizing Ripple for supporting a diversified crypto reserve.
“The US needs a Strategic Bitcoin Reserve, not a Strategic Crypto Reserve,” Bitcoin advocate Wayne Vaughan wrote on X on Jan. 23. He added:
Bitvolt CEO Nico Moran echoed Rochard’s remarks about Ripple, stating that the company is “deliberately working against the US Bitcoin Strategic Reserve initiative, prioritizing their own interests over the well-being of the American people.”
Messari CEO Ryan Selkis also criticized Ripple’s political ties and its push for XRP as an asset on the US balance sheet.
“I didn’t donate $12 million to Kamala or cost the GOP three additional Senate seats like Ripple did,” Selkis wrote, adding:
Independent journalist Efrat Fenigson joined the growing criticism of Ripple, referring to a “love story” between Ripple and CBDCs.
She emphasized that Ripple’s lobbying against Bitcoin reserves is evident in the context of Ripple’s support of centralized money and CBDCs over Bitcoin’s freedom.
The news came amid President Trump signing an executive order banning CBDC development in the US and creating a national digital asset stockpile on Jan. 23.