US Crypto Reserve: A Choice Between Bitcoin and Altcoins

user avatar

by Giorgi Kostiuk

2 years ago

The CEO of CryptoQuant advocates for a US strategic reserve consisting solely of Bitcoin, criticizing the idea of including altcoins.

Statements from CryptoQuant CEO

CryptoQuant CEO Ki Young Ju has shared his views on proposals for creating a US strategic reserve, limited to Bitcoin. In a recent post, he urged the US government to focus exclusively on BTC, avoiding the inclusion of altcoins. Ju highlighted that discussions suggest the administration of US President-elect Donald Trump is considering adding XRP to the federal reserve, which he termed as overreach.

I'm not a Bitcoin maxi, but the U.S. strategic shitcoin reserve has gone too far. Just Bitcoin, please.Ki Young Ju

Bitcoin vs. Altcoins: Which to Choose?

Ju has been a consistent critic of altcoins, particularly memecoins, labeling them harmful to the crypto industry. He argues that altcoins lack the stability and universal appeal of Bitcoin, rendering them unsuitable for a government reserve. Ju believes that a Strategic Bitcoin Reserve is more feasible and beneficial for offsetting US debt compared to traditional assets like gold.

Altcoin markets are currently a zero-sum PvP game. Only a few alts with strong use cases and narratives will survive.Ki Young Ju

Federal Reserve and Congress Opposition

However, Federal Reserve Chair Jerome Powell stated that the central bank is not allowed to own Bitcoin, and the matter should be up to Congress. This view is supported by former Treasury Secretary Larry Summers, who described the idea of a national Bitcoin reserve as crazy and politically motivated, potentially catering to special-interest groups within Trump's campaign.

Some of what is being said—that we should have some kind of national Bitcoin reserve, is crazy. There’s no reason to do that other than to pander to generous special-interest campaign contributors.Larry Summers

The discussion on the creation of a US crypto reserve is gaining significance, but expert opinions are divided. Some believe a Bitcoin-based reserve could help resolve national debt, while others criticize the idea due to Bitcoin's lack of global currency recognition and potential narrow political interests.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Shopify and Coinbase Introduce New Payment Protocol for Merchants

Shopify and Coinbase have launched a Commerce Payments Protocol enabling eligible merchants to accept USDC through Shopify Payments.

user avatarLeo van der Veen

Shopify's Commerce Payments Protocol Sees Over 42 Million Payments

Shopify's Commerce Payments Protocol has recorded over 42 million net settled payments and 448,000 tracked payments as of October 2, highlighting its significant activity and potential.

user avatarLi Weicheng

Chainalysis Investigates Security Breach

Chainalysis is investigating a security breach and has engaged external cybersecurity specialists to enhance its defenses.

user avatarAisha Farooq

Bitcoin's Relevance Grows as Small Businesses Face Economic Challenges

Bitcoin's relevance grows as small businesses face economic challenges due to rising costs and inflation.

user avatarTenzin Dorje

Hanwha Investment Securities and Chainlink Join Forces for Asset Tokenization

Hanwha Investment Securities announced a partnership with Chainlink to adopt data standards for a global real-world asset tokenization platform.

user avatarBayarjavkhlan Ganbaatar

Bitcoin White Paper Marks 18 Years: Future of Security Funding in Question

The Bitcoin white paper, authored by Satoshi Nakamoto, celebrates its 18th anniversary on October 31, 2026, raising questions about the future of network security funding.

user avatarMohamed Farouk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.