Are Ripple and XRP really ‘undermining the U.S strategic BTC reserve?’
The post Are Ripple and XRP really ‘undermining the U.S strategic BTC reserve?’ appeared on BitcoinEthereumNews.com.
Bitcoin maxis have slammed Ripple for ‘undermining’ a U.S BTC reserve XRP has outperformed the world’s largest cryptocurrency by +330% since November 2024 The crypto community is divided on the issue of a “national crypto stockpile,” with top Bitcoin maxis alleging that Ripple is now “undermining: an exclusive U.S BTC strategic reserve. In a recent X post, Strike’s Jack Mallers claimed that the firm had used millions of dollars to sideline the king coin. “Ripple is undermining American prosperity, freedom, and Bitcoin. Ripple is actively lobbying to stop a Bitcoin Strategic Reserve in the U.S. while pushing their centralized, corporate-controlled token. We will not stand for it.” For perspective, President Donald Trump issued a crypto executive order to set up a national digital asset stockpile and drive digital financial innovation in the United States. This could be likely within 180 days after the mandated working group finalizes a legislation framework. By extension, the update confirmed the initial speculation that entailed the potential creation of a ‘Made in USA’ crypto reserve, including XRP, HBAR, SOL, ADA, etc. However, key players’ diverse positions on the issue have become evident, going by the barbs being traded online. Ripple under siege Here, it’s worth pointing out that Ripple, Kraken, and Circle have been vying for a seat within the yet-to-be-formed President’s Trump Crypto Council – The key coordinating group for crypto policy. However, the allegations go beyond that. One user claimed that unlike gold and Bitcoin, which are scarce and not centralized, XRP’s supply is primarily controlled by Ripple and doesn’t fit the criteria for a reserve asset. “XRP doesn’t fully meet these criteria due to its strong association with Ripple and the company’s control over a large portion of its supply. Bitcoin and Gold don’t have a CEO or marketing team lobbying for…
Filed under: News - @ January 25, 2025 9:11 am