XRP's Potential Role in U.S. Reserve: Experts Debate

user avatar

by Giorgi Kostiuk

2 years ago


Recently, the potential inclusion of XRP in a U.S. strategic digital asset reserve garnered attention following an executive order signed by former President Donald Trump. This order seeks to develop a framework for digital asset regulation and investigate the possibility of creating a national digital asset stockpile.

Executive Order and Initial Discussions

The executive order establishes a working group to assess the future of digital assets in the U.S. According to Fox Business journalist Eleanor Terrett, the group aims to address regulatory clarity and consider creating a strategic digital asset reserve. Initially, it was believed that the reserve would primarily include Bitcoin, but discussions have broadened to consider other assets like XRP.

Criticism from Bitcoin Supporters

The idea of diversifying the reserve sparked criticism. Pierre Rochard, Vice President of Research at Riot Platforms, opposed the inclusion of XRP, claiming that Ripple and XRP pose a threat to a Bitcoin-exclusive reserve. He argues that Ripple's lobbying efforts undermine the administration's original goal concentrated on Bitcoin.

Ripple and XRP pose a threat to a Bitcoin-based reserve.

Ripple's View on Digital Diversification

Replying to Rochard's accusations, Ripple CEO Brad Garlinghouse stated that the company's initiatives aim to foster innovation and support American companies. Garlinghouse highlighted the importance of a diversified approach in any digital asset reserve, rather than limiting it to Bitcoin alone.

Our efforts increase the likelihood of a crypto strategic reserve, including Bitcoin.

Debates surrounding the potential inclusion of XRP and other digital assets in a national strategic reserve continue. The issue has spurred lively discussions between Bitcoin supporters and companies advocating digital asset diversification. The final stance of the U.S. administration remains to be seen.

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

Grayscale Appoints BitGo as Custodian for Hyperliquid Staking ETF

Grayscale has appointed BitGo Bank Trust as an additional custodian for its Hyperliquid Staking ETF to enhance custody services and operational flexibility.

user avatarAndrew Smith

Avalanche Sees Surge in Tokenized US Treasury Assets

The value of tokenized US Treasury assets on the Avalanche network has surged to approximately $545 million, marking a fourfold increase over the past year.

user avatarJacob Williams

Metaplanet Shows Liquidity Management with Strategic Bitcoin Transactions

Metaplanet sold 10,000 BTC for approximately $790 million and bought back 11,000 BTC for around $950 million, demonstrating its ability to manage liquidity effectively.

user avatarSon Min-ho

Navra Secures $19 Million in Series A Funding to Bridge Traditional Finance and Blockchain

Navra, a startup led by Mike Cagney, has successfully raised $19 million in Series A funding to enhance access to blockchain-based financial markets for traditional investors.

user avatarZainab Kamara

Arbitrum Proposes Strategic Initiative for USDG Stablecoin

Arbitrum has proposed a governance initiative to back USDG as a core strategic stablecoin within its ecosystem, including adding 100 million ARB to enhance liquidity and adoption.

user avatarTando Nkube

BitGo and HashKey Cloud Expand Partnership in Asia-Pacific

BitGo and HashKey Cloud have expanded their partnership to cover multiple areas of institutional crypto infrastructure, including staking, trading, custody, and asset tokenization in Singapore.

user avatarAyman Ben Youssef

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.