Ripple Slammed As The Biggest Obstacle For US Strategic Bitcoin Stockpile; CEO Brad Garlinghouse Responds
The Bitcoin community is angry with Ripple for endorsing a multi-asset strategic reserve in the United States instead of a Bitcoin-only reserve. Bitcoiners are accusing the San Francisco-based blockchain payments startup of being the biggest obstacle to a national U.S. Bitcoin due to it actively pushing for the inclusion of several coins, including XRP.
Is Ripple Lobbying Against Bitcoin?
In a Jan. 23 post on the X platform, Riot Platforms research Vice President Pierre Rochard suggested that Ripple was the biggest obstacle for the strategic Bitcoin reserve. He cited Ripples heavy lobbying and active involvement in establishing central bank digital currencies (CBCDs). Specifically, Rochard claimed that Ripple had given millions to politicians in an attempt to thwart the Bitcoin Reserve agenda.
They did the same to attack Bitcoin mining under the Biden administration. Obviously, they want to protect their marketing narratives and push for CBDCs built on their platform, he added.
As ZyCrypto previously reported, the New York Post revealed that Trump was receptive to the idea of establishing a strategic reserve prioritizing U.S.-created cryptocurrencies, including USD Coin (USDC), Solana (SOL), and Ripples XRP. Sources told the Post that the strategy could sideline BTC.
Talk of a diversified crypto reserve intensified after Garlinghouse and Ripples Stuart Alderoty dined with Trump earlier this month. The Ripple chief shared a photo from the grand dinner, describing it as a strong start to 2025.
Does XRP Have A Place In US Crypto Reserve?
Responding to Rochard on X, Garlinghouse said the companys efforts align with the current administrations focus on supporting American companies and technologies. He argued that this approach would boost the chances of establishing a reserve that includes assets like XRP, along with Bitcoin.
However, like Rochard, other crypto industry pundits are not convinced this is a good idea.
Bitvolt CEO Nico Moran echoed Rochards sentiments about Ripple, positing 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.
Bitcoin advocate Wayne Vaughan asserted on X on Thursday that the US needs a Strategic Bitcoin Reserve, not a Strategic Crypto Reserve, adding:
Ripple, Ethereum, and Solana have no place on the US governments balance sheet. Including them would create a costly political fallout for the Trump Administration.
Meanwhile, President Trump has signed a new crypto executive order creating a Presidential Working Group on Digital Assets Markets, which will work on creating a federal regulatory framework for digital assets and assess the feasibility of a strategic national digital assets stockpile.
Text source: ZyCrypto
