Brad Garlinghouse explains that a national digital asset reserve needs to include multiple cryptocurrency networks in its makeup.
Sign up to receive the latest tech news and updates from Block International straight to your inbox.
By signing up, you will receive emails about block products and you agree to our terms of use and privacy policy.
Brad Garlinghouse explains that a national digital asset reserve needs to include multiple cryptocurrency networks in its makeup.
The CEO of Ripple Labs Brad Garlinghouse officially supports a U.S. digital asset reserve that should include several cryptocurrencies instead of having Bitcoin (BTC) as its only component. His remarks emerged as predictions increased about President Donald Trump establishing a national digital reserve during his administration.
Garlinghouse presented his view of an equitable crypto reserve through a recent X (formerly Twitter) post. Garlinghouse stated that he holds XRP and BTC alongside ETH coins and some other digital assets while supporting the development of fair market conditions between tokens. As the U.S. establishes a digital asset reserve a representative selection of tokens should be included rather than a single digital currency like Bitcoin XRP or any other. He confronts the mainstream belief that promotes Bitcoin as the exclusive pick for such a reserve system. According to Garlinghouse a preference for using one cryptocurrency token as the key would restrain market expansion by suppressing innovation within the crypto sector.
After President Trump showed interest in reviewing the feasibility of creating a national crypto stockpile the debate intensified about establishing a U.S. digital asset reserve. During his presidential run, Trump suggested this plan which now receives divergent opinions from crypto enthusiasts. People generally believe that Bitcoin should become the essential element in any reserve system because of its popular usage and its function as a store of value. Betting market predictions indicate doubt regarding swift movement on this issue. The prognostications on Polymarket indicate Trump possesses a 17% probability of establishing a Bitcoin reserve before his first 100 days in office. The chances increase slightly to 19% if the reserve develops beyond Bitcoin into multiple assets.
Garlinghouse voices his opposition toward Bitcoin maximalism as he expresses his viewpoint that Bitcoin represents only one valid cryptocurrency in the landscape. Maximalism stands as crypto progress's main hindrance so it is positive to witness declining support for this outdated stance among people, according to Garlinghouse. The XRP token operates as Ripple's key instrument to support international payment deals and money transfer services. XRP has proven functional but its market value remains unstable since it lost nearly 10% to finish at $2.65 from its original $3.09 rate based on CoinDesk data. Through his support for diversified reserves, Garlinghouse aims to develop both XRP adoption and a stronger and more inclusive digital economy.
The U.S. could use a diverse digital asset reserve to transform operations within the crypto industry. The adoption of multiple blockchain technologies throughout a governmental digital reserve would produce national endorsement and lead to wider market adoption of diverse crypto tokens. This initiative would protect investors from the dangers of using a solitary crypto asset and help establish new technical applications outside the Bitcoin domain. Several obstacles stand in the way of creating such a reserve. The future course of a national crypto stockpile depends on conflicting forces between regulatory requirements and political negotiations and market factors and market conditions. The present moment demonstrates the essential need for both flexibility and broad-mindedness in the digital domain where technological changes constantly occur. The crypto community will observe the U.S. government's approach to creating its crypto stockpile to determine if Bitcoin remains the predominant cryptocurrency or if multiple chains will become part of the discussion.
Understanding crypto sales knowledge about goals
Track crypto transactions to stay compliant
Learn how to do your research in crypto trading
Discover the best crypto launchpads