‘Bullish’ Outlook Emerges After Crypto Reserve Announcement
The post ‘Bullish’ Outlook Emerges After Crypto Reserve Announcement appeared on BitcoinEthereumNews.com.
Bitcoin maximalist Michael Saylor appears unbothered about the inclusion of altcoins (XRP, ETH, SOL, ADA) in the US Strategic Reserve as he discloses that this is a step in the right direction. Meanwhile, analysts at the investment firm Bernstein justify Bitcoin’s inclusion but question the addition of altcoins. MicroStrategy’s Michael Saylor, who is known as a staunch advocate for Bitcoin, was one of the first key figures to comment on the list of assets included in the US Crypto Strategic Reserve. As we covered in our latest report, Saylor highlighted that Bitcoin is the “foundation” of the crypto economy. Interestingly, his subsequent comment suggested that he seemingly endorses the multi-token reserve that includes XRP in a recent conversation with CNBC. According to him, this initiative is “bullish” for Bitcoin and the broader crypto industry. Additionally, he believes that this progressive approach is the best way to move forward in the industry. I believe that the best thing for the country is to move forward with an enlightening progressive policy toward digital assets Meanwhile, Saylor has not always been this positive with XRP. In a 2022 podcast, he stated that XRP is obviously a security, urging the US Securities and Exchange Commission (SEC) to take it down. In another appearance on the PBD Podcast in 2024, he hinted that he would not suggest XRP to clients, as he claimed he is “100% Bitcoin-only.” The Argument Surrounding the Multi-token Strategic Reserve While Saylor appears unbothered with the multi-token reserve, analysts at investment firm Bernstein Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia have expressed concerns. According to them, the role of Bitcoin as a digital gold is widely recognized and is increasingly accepted as a legitimate store of value. However, the others, including XRP, lack a clear sovereign rationale. The idea of the…
Filed under: News - @ March 4, 2025 8:34 pm