Cardano founder Charles Hoskinson has defended President Trump’s decision to include XRP in the U.S. Crypto Reserve, arguing that its technology, global standard status, and resilience make it a strategic asset. His remarks came in response to economist Peter Schiff, who questioned why the U.S. government would need an XRP reserve.
Why XRP Deserves a Spot in the U.S. Crypto Reserve, According to Hoskinson
- XRP’s blockchain is highly efficient and widely used for financial transactions.
- The asset has survived multiple market cycles over more than a decade.
- XRP’s strong community and global adoption make it a key player in the digital asset space.
Peter Schiff Mocks XRP Inclusion, Suggests “Fartcoin” Instead
Schiff, a long-time Bitcoin skeptic, acknowledged the logic behind a Bitcoin reserve but dismissed the need for an XRP reserve, stating:
- “We have a gold reserve. Bitcoin is digital gold. But why the hell would we need an XRP reserve?”
- He questioned why Ethereum (ETH), Solana (SOL), and Cardano (ADA) were included, sarcastically asking if “Fartcoin” should also be added.
- Coinbase CEO Brian Armstrong supports a Bitcoin-only reserve, arguing that BTC is the closest asset to digital gold.
What’s Next? The White House Crypto Summit
- The White House AI and Crypto Czar, David Sacks, confirmed that more details about the U.S. Crypto Reserve will be revealed at the White House Crypto Summit on March 7.
- The debate over which digital assets should be included continues, with some seeing an altcoin-based reserve as undermining Bitcoin’s role as the primary U.S. digital asset.
With crypto leaders and policymakers divided, the March 7 summit will be crucial in shaping the U.S. government’s digital asset strategy.
Hidden Insight
While Hoskinson frames XRP as a strategic asset, the real issue is which cryptocurrencies the U.S. government considers essential. If altcoins like XRP, SOL, and ADA are officially backed, it could shift market dominance away from Bitcoin maximalism, setting a precedent for multi-asset national reserves globally.