Ripple CEO Opposes Bitcoin Reserve

Ripple CEO Brad Garlinghouse has publicly opposed the creation of a Bitcoin strategic reserve.

The 53-year-old executive has opined that a digital asset reserve should be “representative of the industry,” which is why he does not believe that it should include only one token.

He has suggested that the Ripple-affiliated XRP

cryptocurrency

should be part of the reserve as well if it ends up being created.

Garlinghouse has also reiterated that he personally owns multiple tokens, including Bitcoin and Ethereum.

“I own XRP, BTC, and ETH among a handful of others – we live in a multichain world, and Ive advocated for a level-playing field, instead of one token versus another,” he said.

As reported by U.Today, Bitcoin advocates have been caught in an intense clash with XRP fans over the past week.

The long-simmering feud seemingly reached a boiling point when Ripple got accused of secretly lobbying against a Bitcoin reserve despite past attempts to feign unity. In fact, the company was described as the main obstacle to this initiative.

Garlinghouse has seemingly confirmed Ripple's lobbying efforts with his recent statement, arguing that maximalism is the “enemy” of crypto progress.

Bitcoiners have not been swayed by Garlinghouse's denunciation of maximalism.

Pierre Rochard, VP of research at mining giant Riot Platforms, described Ripple as a “failed company” that is begging for a bailout.

Michael Goldstein, president of the Satoshi Nakamoto Institute, has accused Ripple of spending millions of dollars on “massive propaganda campaigns” to “destroy” Bitcoin.

Meanwhile, the odds of the US government creating a national Bitcoin reserve in 2025 currency stand at 55%.