Ripple CEO Supports Multichain Approach for US Digital Asset Reserve
Brad Garlinghouse, CEO of Ripple, commented on the US government's potential creation of a national digital asset reserve. He emphasized the need for a multichain approach that includes various cryptocurrencies, not just Bitcoin BTC.
- Garlinghouse advocates for collaboration in the crypto industry, opposing a "winner-takes-all" mentality.
- He holds personal investments in XRP, Bitcoin, and Ethereum.
- Maximalism, the belief in one superior cryptocurrency, is viewed as a barrier to growth.
- He believes a government digital asset reserve should reflect the diverse crypto landscape.
- Critics argue that Bitcoin's unique properties make it the most suitable reserve currency.
- The debate intensified after President Trump's January 23, 2025 executive order on crypto regulations.
- Nine US states are considering strategic Bitcoin reserve proposals.
- Senator Cynthia Lummis proposed acquiring 200,000 Bitcoin annually until reaching a total of one million.
- XRP has rebounded 12% from a recent low of $2.80 to $3.10.
- Bitcoin experienced a 3.8% increase, currently trading at around $102,700.