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Ripple's CEO Brad Garlinghouse Bats for Diversified U.S. Crypto Reserve
Ripple's CEO calls for a U.S. strategic bitcoin reserve that includes more than one token.
Updated Jan 28, 2025, 5:25 a.m. Published Jan 28, 2025, 4:56 a.m.
What to know:
- Ripple's CEO calls for a diversified U.S. digital assets reserve.
- Polymarket shows just 19% chance of Trump announcing a BTC reserve in first 100 days of his administration.
Brad Garlinghouse, CEO of crypto company Ripple Labs, supports the idea of a U.S. digital asset reserve encompassing multiple tokens and not just bitcoin or XRP.
"I own XRP, BTC, and ETH, among a handful of others – we live in a multichain world, and I’ve advocated for a level-playing field instead of one token versus another. If a govt digital asset reserve is created - I believe it should be representative of the industry, not just one token (whether it be BTC, XRP or anything else)," Garlinghouse said on X.
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Last week, U.S. President Donald Trump said his administration will evaluate whether to create a national digital asset stockpile, having backed the idea in the lead-up to the November elections.
The crypto market anticipates that a potential reserve would include bitcoin, the leading digital asset by market value and the one with the highest level of institutional adoption. Currently, traders active over decentralized betting platform Polymarket only see a 17% chance of Trump greenlighting the project in the first 100 days of his administration.
Garlinghouse, however, is against the maximalism that promotes BTC as the only deserving candidate for a potential national reserve.
"Maximalism remains the enemy of crypto progress, and I’m very glad to see fewer and fewer folks ascribe to this outdated and misinformed thinking," Garlinghouse said.
Ripple uses XRP to facilitate cross-border payments and remittances. XRP changed hands at $3.09, having tanked nearly 10% to $2.65 on Monday, CoinDesk data show.
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