A debate over which digital assets should be included in the newly proposed U.S. Crypto Strategic Reserve has emerged, with top industry executives arguing that Bitcoin may be the only cryptocurrency fit for the role.
In a recent X post, Winklevoss stated that Bitcoin is the only cryptocurrency that qualifies as a U.S. reserve asset, likening it to gold. He recognized the trading legitimacy of other cryptocurrencies like XRP, ADA, and SOL. Still, he emphasized that a strategic reserve demands a higher level of reliability, describing the need for an asset that functions as “hard money” and a proven store of value.
Brian Armstrong, CEO of Coinbase, stated that Bitcoin is the easiest option for a reserve asset and proposed a market cap-weighted index of cryptocurrencies for diversity. Cameron Winklevoss, co-founder of Gemini, suggested that Ethereum could also serve as a reserve asset alongside Bitcoin, likening them to traditional reserves such as gold and oil.
Some industry leaders express concerns about including Proof-of-Stake (PoS) cryptocurrencies like Solana and Cardano as reserve assets, favouring Proof-of-Work (PoW) assets such as Bitcoin and Litecoin for their security and immutability. Samson Mow, CEO of Jan3, warns that PoS assets could be vulnerable to foreign control. Key figures in the crypto industry, including Cardano founder Charles Hoskinson and Ripple CEO Brad Garlinghouse, defend XRP’s inclusion as a reserve asset, praising its technology, resilience, and community support, and advocate for a diversified reserve strategy in line with Trump’s multi-token approach.
The Crypto Strategic Reserve debate coincides with Trump hosting the first White House Crypto Summit on March 7, where industry leaders will discuss regulatory policies and a government-backed digital asset reserve. The summit will be led by Trump’s digital assets working group, including Bo Hines and advisor David Sacks. Notably, Trump earlier announced that the reserve would include Bitcoin, Ethereum, Solana, Cardano, and XRP. However, Tyler Winklevoss of Gemini has raised concerns about including multiple assets in the reserve.
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