- Pierre Rochard of Riot Platforms accuses Ripple of lobbying against a Bitcoin-only reserve, favoring its associated XRP.
- Changpeng Zhao signals strong likelihood of a strategic Bitcoin reserve, highlighting rapid advancements in cryptocurrency policy.
Brad Garlinghouse, CEO of Ripple, has actively engaged on the X social media platform to refute claims that his company is lobbying against the establishment of a Bitcoin-centric strategic reserve. Garlinghouse asserts that Ripple’s actions are instead promoting the likelihood of a broader strategic cryptocurrency reserve that could include multiple digital assets.
Unless you are choosing to ignore the core tenants of the POTUS campaign (which aggressively supports American companies and technologies), our efforts are actually INCREASING the likelihood of a crypto strategic reserve (which includes bitcoin) happening.
— Brad Garlinghouse (@bgarlinghouse) January 23, 2025
This declaration arises in response to Pierre Rochard, Vice President at Riot Platforms, who has accused Ripple of being a major impediment to the creation of a reserve focused solely on Bitcoin.
Rochard argues that Ripple, associated with the XRP cryptocurrency, is obstructing this development with vigorous lobbying efforts aimed at derailing the reserve’s establishment.
Garlinghouse countered by proposing that Ripple advocates for a multi-token reserve, which challenges the Bitcoin-only perspective favored by traditionalists who view Bitcoin as a digital equivalent to gold. This position suggests a fundamental divergence in the strategic visions within the cryptocurrency community.
Meanwhile, Changpeng Zhao, the former CEO of Binance, has indicated a significant likelihood of the strategic Bitcoin reserve’s imminent realization, commenting on the rapid developments in the sector with, “Crypto moving at crypto speed again.”
US Strategic Bitcoin Reserve, pretty much confirmed.
Crypto moving at crypto speed again. https://t.co/8qWlt65ARE
— CZ 🔶 BNB (@cz_binance) January 23, 2025
This comes as Senator Cynthia Lummis of Wyoming, a long-time proponent of digital currencies, takes the helm of a new Senate subcommittee on digital assets. Last year, Lummis introduced legislation aimed at establishing a reserve composed of one million Bitcoin units. Despite facing extensive skepticism, this proposal has gained substantial traction.
Market sentiment, as tracked by Polymarket, currently shows a 48% chance of the strategic Bitcoin reserve being established within the next quarter. Additionally, reports by ETHNews have surfaced that a working group is being formed to consider the feasibility of a national cryptocurrency reserve.
