Coinbase co-founder Brian Armstrong has recommended Bitcoin for strategic reserves, amid President Donald Trump’s calls for a “cryptocurrency reserve.”
Brian Armstrong’s Impartial Take: “Bitcoin for Reserve”
As the crypto industry has been buzzing with debates on which cryptocurrencies should be part of the reserve, Armstrong has chimed in with his recommendation for Bitcoin. He stated, “Trump is advancing the cryptocurrency reserve plan,” and added that, in terms of strategic reserve asset allocation, Bitcoin may be the best choice.
Calling Bitcoin the successor to gold, Armstrong further pitched Bitcoin as the simplest and clearest narrative. However, with speculation surrounding Ripple (XRP), Solana (SOL), and Cardano (ADA) possibly being part of the reserve, Armstrong suggested that for diversification, people could “index crypto assets by market capitalization to maintain fairness.” Nonetheless, the Coinbase co-founder reiterated that Bitcoin’s simplicity makes it the perfect choice.
After Trump shared on the social media platform Truth Social that the U.S. would be the crypto capital of the world, he revealed that his “Executive Order on Digital Assets” directed the Presidential Working Group to move forward with a Crypto Strategic Reserve that includes XRP, SOL, and ADA along with Bitcoin and Ethereum.
Armstrong’s comments come against the backdrop of the crypto industry pointing out Trump’s favoring of Ripple, ADA, and Solana, with many claiming that XRP’s market performance does not align with expectations. As a result, the crypto industry seems divided over Bitcoin vs. altcoins, with netizens arguing that favoring these three altcoins represents a “conflict of interest.” Several other crypto users expressed the opinion that only Bitcoin should be included in the reserve.
Notwithstanding the debates, Trump’s comments have certainly created a significant rise for the industry, with the global crypto market surging by 9%. Bitcoin and altcoins, including Ripple (XRP), Solana (SOL), and Cardano (ADA), have also witnessed bullish trends.
Also Read: Texas Senate Banking Committee Advances Bitcoin Reserve Bill
