Cameron Winklevoss, co-founder of the Gemini crypto exchange, emphasizes the importance of a strategic Bitcoin reserve for nations. He argues that having a Bitcoin reserve is essential for national security and self-sufficiency.
Winklevoss believes that countries that delay accumulating Bitcoin will face higher costs and lose financial sovereignty. He compares Bitcoin to other critical resources like gold and oil, stating that stockpiling Bitcoin is necessary to reduce reliance on adversaries.
Winklevoss urges nations to act quickly to gather Bitcoin. He suggests that acquiring Bitcoin sooner will lead to better prices. His comments align with those of other industry leaders, including Brian Armstrong, CEO of Coinbase. Armstrong advocates for a national digital asset reserve focused solely on Bitcoin, calling it the most reliable store of value and a successor to gold.
Armstrong also responded to President Trump’s idea of including various altcoins like Ethereum and XRP in the reserve. He suggested that if diversity is desired, a market capitalization-weighted index of crypto assets could be used. However, he believes that focusing solely on Bitcoin is the simplest and most effective approach.
Tyler Winklevoss, Cameron’s brother, stated that ADA (Cardano) does not qualify as a strategic reserve asset but is still viable for listing on Gemini. In contrast, Peter Schiff, a known Bitcoin critic, questioned the inclusion of altcoins like XRP in the reserve.
Charles Hoskinson, co-founder of Cardano, defended XRP’s inclusion, highlighting its strong technology and community. He believes that President Trump made the right choice in considering XRP for the reserve.
David Sacks, the White House crypto czar, announced that more details about the proposed crypto reserve will be shared at the upcoming White House Crypto Summit on March 7.
