The post Critics Question Inclusion of XRP in Proposed Multi-Token Reserve Amid Bitcoin Support appeared on BitcoinEthereumNews.com.

In a recent development in the cryptocurrency sphere, prominent financial commentator Peter Schiff has raised his voice against the establishment of a multi-token cryptocurrency reserve, particularly targeting the Ripple-affiliated XRP. Schiff’s skepticism centers around the rationale for including XRP in a reserve, especially when many credit Bitcoin with being a digital gold alternative. “But what’s the rationale for an XRP reserve? Why the hell would we need that?” Schiff posed rhetorically, questioning the token’s value. This article delves into Peter Schiff’s criticism of XRP’s inclusion in a new cryptocurrency reserve, reactions from the crypto community, and the market impact. Peter Schiff Questions the Inclusion of XRP in Crypto Reserve Peter Schiff, known for his outspoken views on cryptocurrencies, particularly Bitcoin, has turned his skepticism towards the idea of a multi-token reserve that includes XRP. Schiff has expressed confusion over why a well-known cryptocurrency like XRP would be part of such a strategy. According to Schiff, the inclusion of Bitcoin in a reserve makes sense due to its position as a leading digital asset often compared to gold. However, he emphasizes that XRP’s role remains unclear, questioning its necessity and functionality within a reserve. Community Responses to Schiff’s Skepticism Interestingly, many within the Bitcoin community have sided with Schiff, despite his history of criticizing Bitcoin. Analyst James Check commended Schiff, stating, “This is the best tweet you have ever compiled. Welcome home, Peter,” signaling a rare moment of agreement. This alignment among Bitcoin proponents indicates a growing skepticism around the viability and value of multi-token reserves involving cryptocurrencies like XRP. XRP’s Credibility as Part of a Strategic Reserve In a twist of events, Cardano founder Charles Hoskinson defended XRP, marking a notable shift as he previously had disagreements with members of the Ripple community. Hoskinson praised XRP’s technology, highlighting its capability…

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Filed under: News - @ March 3, 2025 6:17 am