The CEOs of major cryptocurrency platforms Coinbase and Gemini assert that Bitcoin qualifies as the only digital currency eligible for inclusion in a U.S. reserve.
Their remarks were made in light of former President Donald Trump’s recent proposal to form a Crypto Strategic Reserve, which includes Bitcoin along with cryptocurrencies such as Solana, Cardano, XRP, and Ethereum.
Quote from Tyler Winklevoss:
“Only one digital asset in the world right now meets the bar, and that digital asset is Bitcoin.” - Tyler Winklevoss, March 2025 source
Winklevoss: Only ‘Hard Money’ Like Bitcoin Qualifies as a Reserve Asset
While he recognized other cryptocurrencies, Winklevoss insisted that a reserve asset must be ‘hard money’—comparable to gold.
Brian Armstrong, CEO of Coinbase, shared Winklevoss’s view and emphasized Bitcoin’s potential as “a clear successor to gold.” However, he proposed that if the U.S. diversifies its reserves, it may consider a market cap-weighted index of cryptocurrencies to reduce bias.
Quote from Brian Armstrong:
“Just Bitcoin would probably be the best option – simplest, and clear story as successor to gold. If folks wanted more variety, you could do a market cap weighted index of crypto…” - Brian Armstrong source
Cameron Winklevoss, co-founder of Gemini, extended the discussion, suggesting Ethereum might also have a place in the Reserve, likening Bitcoin to digital gold and Ethereum to digital oil.
Key Insights
- The Gemini and Coinbase CEOs propose Bitcoin as the sole U.S. reserve cryptocurrency.
- Samson Mow advocates for an exclusive reserve of proof-of-work cryptocurrencies.
- Other leaders from Cardano and Ripple defend their digital assets’ inclusion in the proposed reserve, citing their stability and community support.
Upcoming Event: The proposal will be evaluated at the forthcoming White House Crypto Summit on March 7, 2025, with industry figures and government officials discussing regulatory frameworks and stablecoin oversight.
