Charles Hoskinson, co-founder of Cardano, supports President Trump’s decision to include XRP in the US crypto reserve. He believes that XRP’s utility makes it deserving of this role.
Hoskinson responded to Peter Schiff, who questioned the need for an XRP reserve. Trump announced that the reserve would also include Bitcoin, Ethereum, Solana, Cardano, and other valuable cryptocurrencies.
Schiff, a long-time critic of Bitcoin, expressed skepticism about the idea of a Bitcoin reserve. He acknowledged the rationale behind it but questioned why XRP should be included. He stated, “We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. But what’s the rationale for an XRP reserve?”
In defense of XRP, Hoskinson highlighted its global standard, resilience, and strong community. He stated that XRP is great technology and has survived many challenges over the past decade. He believes these factors justify its inclusion in the reserve.
Schiff continued to challenge the decision, asking what makes XRP special enough to be part of the US strategic holdings. He pointed out that many valuable assets are not held in reserve by the government. He questioned the inclusion of other cryptocurrencies like Ethereum, Solana, and Cardano, asking why not include something like “Fartcoin.”
The decision to include XRP has sparked debate within the crypto community. Many industry figures are against the idea of an altcoin-based reserve. Alex Xu from Mint Ventures noted that the inclusion of SOL, XRP, and ADA, which are backed by Trump, could weaken the Bitcoin reserve’s credibility.
Coinbase CEO Brian Armstrong supports a Bitcoin-only reserve, viewing Bitcoin as the most transparent option. David Sacks, the White House AI and crypto czar, announced that more details about the proposed crypto reserve will be revealed at the upcoming White House Crypto Summit on March 7.
