TLDR
- Brad Garlinghouse advocates for a diverse U.S. digital asset reserve including multiple cryptocurrencies
- Trump administration is evaluating creation of national digital asset stockpile
- Polymarket shows 19% chance of Trump announcing BTC reserve in first 100 days
- Bitcoin maximalists oppose including other cryptocurrencies in potential reserve
- XRP price dropped 10% to $2.65 on Monday before recovering to $3.09
Brad Garlinghouse, CEO of Ripple Labs, has entered the discussion about a potential U.S. government digital asset reserve, advocating for the inclusion of multiple cryptocurrencies rather than focusing solely on Bitcoin.
In a recent statement on X (formerly Twitter), Garlinghouse shared his perspective on cryptocurrency diversity, revealing that he personally holds XRP, Bitcoin, and Ethereum among other digital assets. His position reflects his belief in a “multichain world” where various cryptocurrencies can coexist and thrive.
Some thoughts on maximalism… let me say this as clearly as I can – the crypto industry has a real shot, here and now, to achieve the many goals we have in common, IF we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.
• I own…
— Brad Garlinghouse (@bgarlinghouse) January 27, 2025
The timing of Garlinghouse’s comments follows last week’s announcement by U.S. President Donald Trump that his administration would evaluate the creation of a national digital asset stockpile. This development has sparked debate within the cryptocurrency community about which digital assets should be included in such a reserve.
Current market sentiment, as reflected on the decentralized betting platform Polymarket, indicates modest expectations for immediate action. The platform shows just a 19% probability of Trump announcing a Bitcoin reserve within the first 100 days of his administration.
Garlinghouse specifically addressed the issue of “maximalism” in the cryptocurrency space, describing it as “the enemy of crypto progress.” He expressed satisfaction that fewer people are adhering to what he termed “outdated and misinformed thinking” about Bitcoin’s exclusive role in the industry.
The debate has drawn responses from prominent figures in the Bitcoin community. Pierre Rochard, Vice President of Riot Platforms, has argued that Bitcoin’s decentralized nature makes it uniquely qualified for inclusion in a government reserve. Similarly, Messari CEO Ryan Selkis has supported Bitcoin’s distinctive position in the market.
Ripple Labs, under Garlinghouse’s leadership, continues to utilize XRP for facilitating cross-border payments and remittances. The company’s involvement in international money transfers has established it as a player in the financial technology sector.
Recent market activity has shown volatility in the XRP price, with the token experiencing a 10% decline to $2.65 on Monday before recovering to $3.09, according to CoinDesk data. This price movement occurred against the backdrop of the ongoing reserve discussion.
Garlinghouse’s stance emphasizes the importance of creating what he calls a “level-playing field” in the cryptocurrency industry. He maintains that any government digital asset reserve should represent the broader industry rather than focusing on a single token.
The Ripple CEO’s position challenges the notion of cryptocurrency competition as a zero-sum game. Instead, he promotes a collaborative approach where multiple digital assets can succeed simultaneously.
The technical implementation of cross-border payments through Ripple’s network demonstrates the practical applications of digital assets beyond store-of-value purposes. This functionality adds another dimension to the debate about which cryptocurrencies might serve in a national reserve.
Market observers continue to monitor developments in this space, particularly given the potential impact of government involvement in digital asset holdings. The creation of a national reserve could influence both institutional adoption and market dynamics.
Trump’s announcement about evaluating a digital asset stockpile represents a shift in government attention toward cryptocurrency holdings. This development has sparked discussions about the criteria that might be used to select assets for inclusion.
The conversation around a U.S. digital asset reserve occurs against a backdrop of increasing institutional interest in cryptocurrencies. Various financial institutions have already established positions in digital assets, primarily focusing on Bitcoin.
Notably, Ripple’s own relationship with regulators and its ongoing efforts to ensure XRP’s participation in discussions about digital asset reserves adds another layer to the debate about cryptocurrency inclusion in government holdings.
