Who Invited XRP to US Crypto Reserves? Ripple Sparks Controversy

- Bitcoin Community Criticizes Ripple's Push for Multi-Cryptocurrency Reserve - Ripple CEO Garlinghouse Advocates for Inclusion of Various Cryptocurrencies [Unblock Media] The topic we are addressing this time is the controversy between the Bitcoin community and Ripple. The Bitcoin community is criticizing Ripple's push for a multi-cryptocurrency reserve, arguing that Ripple prioritizes its own interests. Specifically, Ripple is advocating for a U.S. strategic cryptocurrency reserve that includes multiple cryptocurrencies, not just Bitcoin, sparking heated debates within the cryptocurrency space. The Bitcoin community accuses Ripple of hindering the U.S. Strategic Bitcoin Reserve (SBR) by promoting a reserve including multiple cryptocurrencies. According to the New York Post on January 16, former President Trump is reportedly positive about the idea of a strategic reserve containing U.S.-based tokens like USD Coin, Solana, and XRP. Ripple CEO Brad Garlinghouse supports the multi-cryptocurrency reserve, acknowledging mixed opinions within the community. Garlinghouse stated, "Our efforts actually increase the likelihood of realizing a strategic cryptocurrency reserve that includes Bitcoin." In an interview with CNBC, Garlinghouse mentioned, "A strategy that includes various cryptocurrencies encourages innovation and competition and could help the U.S. establish itself as a leader in digital assets." Some academics supporting Ripple argue that a combination of Central Bank Digital Currencies (CBDCs) and XRP could improve international remittance and financial inclusion, particularly addressing high fees and slow payment systems in developing countries. Pierre Rochard, head of research at Riot Platforms, pointed to Ripple as the main obstacle, criticizing its strong political lobbying efforts and active participation in CBDC development. In response to such criticism, Garlinghouse reaffirmed Ripple's support for the multi-cryptocurrency reserve. Several Bitcoin advocates also criticize Ripple's activities in light of this controversy. Wayne Vaughn argued that "the U.S. needs a Strategic Bitcoin Reserve, not a Strategic Cryptocurrency Reserve," emphasizing that Ripple, Ethereum, Solana, and others should not be included in the U.S. government's financial assets. Bitvolt CEO Nick Moran accused Ripple of "deliberately hindering the U.S. Bitcoin Strategic Reserve initiative, prioritizing its interests over the welfare of the American people." Messari CEO Ryan Selkis criticized Ripple's political connections and efforts to include XRP in the U.S. financial assets, stating that any options beyond a Bitcoin reserve are unacceptable. CoinDesk reported that Ripple's activities are "at the center of policy discussions related to the development of a U.S. digital asset strategy." Finally, independent journalist Efrat Feniston highlighted the "love story" between Ripple and CBDCs, emphasizing the criticism that Ripple supports centralized currencies and CBDCs, opposing Bitcoin's freedom. This news comes amid former President Trump signing an executive order on January 23 to ban the development of CBDCs within the U.S. and establish a national digital asset reserve. This trend reinforces the notion that while Bitcoin represents decentralization and freedom, other cryptocurrencies and CBDCs could be centralized and subject to government control. Ripple's multi-cryptocurrency reserve emphasizes convergence with centralized financial systems, posing a perceived threat to Bitcoin advocates.