XRP and Bitcoin Communities Clash Over Digital Asset Reserve Strategy
The crypto community is currently engaged in a heated debate following Donald Trump's executive order for a digital asset stockpile. Key points include:
- Ripple CEO Brad Garlinghouse criticized Bitcoin maximalism, suggesting it hinders the crypto sector's potential.
- Garlinghouse advocates for a government-backed digital asset reserve to represent the entire ecosystem, not favoring any single token like Bitcoin or XRP.
- Accusations have emerged from Bitcoin supporters claiming Ripple is lobbying against establishing a strategic Bitcoin reserve.
- Jack Mallers, CEO of Zap, alleged that Ripple is spending millions to undermine Bitcoin's position.
- Pierre Rochard from Riot Platforms echoed these concerns, indicating Ripple's actions could obstruct Bitcoin's strategic reserve efforts.
- Pro-XRP lawyer Hailey Lennon highlighted that a significant portion of XRP supply is controlled by Ripple Labs, contrasting it with Bitcoin's distribution.
- Bill Morgan, another pro-XRP lawyer, countered that Ripple's ownership of XRP is decreasing, while institutional ownership of Bitcoin is rising.