By Nermeen Nabil Khear President Trump’s recent comments on establishing a strategic crypto reserve have sparked a debate within and outside the crypto community.
Key figures within the US financial market space have shared their thoughts on the matter. Do you think this crypto reserve should only have Bitcoin?
Debate Over Bitcoin-Only Crypto Reserves
The crypto reserve will reportedly include Bitcoin, Ethereum, Solana, and other grade-A coins. However, many crypto experts believe a Bitcoin-only reserve would be the best approach. For example, Tyler Winklevoss, co-founder of the Gemini exchange, in a recent X post, noted that Bitcoin is the only digital asset that meets the necessary criteria.
He wrote, “Only one digital asset in the world right now meets the bar, and that digital asset is Bitcoin.” He explained that while Gemini lists many cryptocurrencies, a reserve asset must function as “hard money” and serve as a reliable store of value, similar to gold.
I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve. Only one digital asset in the world right now meets the bar and that digital asset is bitcoin.
Many of these assets are listed for trading on @Gemini and meet our rigorous… pic.twitter.com/q32qlaFDKJ
— Tyler Winklevoss (@tyler) March 3, 2025
Brian Armstrong Shares the Same Belief
Coinbase CEO Brian Armstrong echoed this sentiment, saying, “Just Bitcoin would probably be the best option.” The Coinbase executive cites Bitcoin’s simplicity and role as a digital successor to gold as reasons for his belief.
With that said, if the government happens to come into possession of other digital assets (e.g., XRP, ADA, or SOL) through seizure, forfeiture, etc. I think this type of stockpiling would be ok and it’s much different than actively acquiring these assets in the open market.
— Cameron Winklevoss (@cameron) March 3, 2025
Furthermore, Armstrong suggested that if the U.S. government wanted to include multiple cryptocurrencies, it should adopt a system that selects coins based on their market value. This would mean prioritizing coins based on their market cap. Such a system would ensure that the selection is not influenced by personal opinion.
Excited to learn more. Still forming an opinion on asset allocation, but my current thinking is:
1. Just Bitcoin would probably be the best option – simplest, and clear story as successor to gold
2. If folks wanted more variety, you could do a market cap weighted index of crypto… https://t.co/jv8Gcn8N2S— Brian Armstrong (@brian_armstrong) March 3, 2025
Other crypto experts name Ethereum as the next possible option for a crypto reserve. Interestingly, some others argue that a market-value-based index would be inefficient. Instead, it called for a stricter approach that considers proof-of-work cryptocurrencies. This would give priority to Bitcoin and Litecoin, being the major PoW cryptos.
A strong advocate of this view, Samson Mow, CEO of Bitcoin-focused firm Jan3, claims that proof-of-stake assets like Cardano and Solana could be vulnerable to foreign control. However, his claims received massive backlash from the crypto community.
I’ve been thinking about the US Strategic Bitcoin/Crypto Reserve and there are two possible outcomes:
1⃣ The reserve is $BTC and none of the mentioned altcoins actually make it in
2⃣ We’re going to accelerate into degeneracy unlike anything seen beforeLong thread time.
pic.twitter.com/4EVzXeyDeE
— Samson Mow (@Excellion) March 3, 2025
Executives from Ripple and Cardano defended Trump’s choice for a broader selection. Some used XRP’s longevity to advocate for an extensive selection.
Conclusion
The discussion comes ahead of the White House Crypto Summit on March 7, where industry leaders will meet with Trump’s Working Group on Digital Assets. The meeting will focus on crypto regulation within the U.S. Many see it as a deciding factor for crypto’s future in the U.S.
Disclaimer
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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