What to know:
- Ripple’s CEO advocates for a diversified U.S. digital assets reserve.
- Polymarket indicates only a 19% chance of Trump announcing a BTC reserve within his first 100 days.
Brad Garlinghouse, CEO of Ripple Labs, supports the initiative for a U.S. digital asset reserve that should encompass various tokens rather than being limited to only Bitcoin (BTC) or XRP.
“I own XRP, BTC, and ETH, among a handful of others – we live in a multichain world, and I’ve advocated for a level-playing field instead of one token versus another. If a government digital asset reserve is created, I believe it should represent the industry, not just one token,” Garlinghouse remarked on X.
Last week, U.S. President Donald Trump mentioned that his administration will consider establishing a national digital asset stockpile, a concept he supported ahead of the upcoming elections.
The crypto market expects that a potential reserve could incorporate Bitcoin, which is currently the leading digital asset by market capitalization and has attained significant institutional adoption. Notably, traders on the decentralized betting platform Polymarket perceive only a 17% likelihood of Trump approving the project within his initial 100 days of presidency.
Garlinghouse is opposed to the notion that Bitcoin is the sole candidate deserving of such a national reserve.
“Maximalism remains the enemy of crypto progress, and I’m very glad to see fewer and fewer folks ascribe to this outdated and misinformed thinking,” Garlinghouse added.
Ripple uses XRP to facilitate cross-border payments and remittances. Currently, XRP is valued at $3.09, down nearly 10% to $2.65 as reported on Monday, according to CoinDesk data.
