U.S. economist slams ‘rationale for an XRP reserve’
The post U.S. economist slams ‘rationale for an XRP reserve’ appeared on BitcoinEthereumNews.com.
Renowned U.S. economist Peter Schiff, sharply criticized the idea of including XRP in the United States Cryptocurrency Strategic Reserve, questioning its purpose amid broader discussions about digital assets in the American economy. In a March 2, 2025, post on X, Schiff acknowledged the logic behind a Bitcoin (BTC) reserve, likening it to its digital gold narrative, but expressed his disapproval at the inclusion of the token, ‘what’s the rationale for an XRP reserve? Why the hell would we need that?’ I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let’s create a Bitcoin reserve too. But what’s the rationale for an XRP reserve? Why the hell would we need that? — Peter Schiff (@PeterSchiff) March 2, 2025 The gold bug added to one post: “Why does the U.S. government need a strategic reserve of XRP? There are a lot of valuable assets that the U.S. government doesn’t hold in reserve. What’s so special about XRP.” U.S. Cryptocurrency Strategic Reserve Peter Schiff’s comments come fresh on the heels of Donald Trump’s announcement on Truth Social, where he revealed plans for a U.S. Cryptocurrency Strategic Reserve. Trump announces U.S. Crypto Reserve. Source: truthsocial.com Trump’s initiative will include major cryptocurrencies like BTC, Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), stating that a U.S. Crypto Reserve would position the United States as the crypto capital of the world. The announcement follows the U.S. President’s January executive order directing a presidential working group to explore a digital asset stockpile, potentially using seized cryptocurrencies to bolster economic strategy or influence crypto markets. The inclusion of XRP and other altcoins has sparked debate, with proponents like Cardano’s founder Charles Hoskinson praising the…
Filed under: News - @ March 3, 2025 11:27 am