Ripple Sparks Debate Over U.S. Strategic Bitcoin Reserve and Cryptocurrency Policy
The inclusion of cryptocurrencies in a potential U.S. strategic digital asset reserve has ignited fierce debate, with Ripple emerging as a key player in the controversy. This follows former President Donald Trump’s executive order aimed at establishing the United States as a global leader in cryptocurrency innovation. The directive envisions a diversified digital asset stockpile that extends beyond Bitcoin, sparking heated discussions about which assets should be included.
Ripple CEO Advocates for XRP Inclusion
Brad Garlinghouse, CEO of San Francisco-based blockchain company Ripple, has openly supported the idea of incorporating XRP into the reserve. He argues that diversification is vital for building a resilient digital asset portfolio. Garlinghouse’s remarks set off a firestorm on social media platform X (formerly Twitter), with supporters and critics voicing their opinions.
Political Contributions and Strategic Maneuvering
Ripple’s role in political funding has added another layer to the debate. Reports indicate that Ripple co-founder Chris Larsen donated $11.8 million to Vice President Kamala Harris’s campaign. After the Trump administration took office, Ripple pivoted, donating $5 million in digital tokens to Trump’s inauguration event, the Washington D.C. Crypto Ball, hosted by David Stacks, Trump’s appointed “Crypto Czar.”
Opposition to XRP in the Reserve
Not everyone agrees with Ripple’s stance. JP Richardson, CEO of crypto wallet provider Exodus, tweeted that Bitcoin should remain the sole asset in a strategic reserve, citing its proven track record as a store of value. Richardson’s opposition underscores a growing rift within the crypto community over the reserve’s composition.
As discussions continue, Ripple’s advocacy for XRP and its political connections underscore the high stakes in shaping U.S. cryptocurrency policy and the future of digital asset adoption.
