Strategy chairman Michael Saylor has taken a unique stand on US President Donald Trump’s addition of XRP and Cardano to the national crypto reserve proposition.
In an interview with CNBC yesterday, the Bitcoin maximalist surprisingly nodded to a non-Bitcoin-only US crypto reserve. Despite repeatedly preaching that there is no second-best asset after the flagship crypto asset, he describes the adoption as bullish for Bitcoin and the entire US crypto industry.
Saylor Backs XRP and Cardano Addition
On Sunday, Trump announced for the first time that the national crypto stockpile, once a solely Bitcoin game, would include four other assets. He confirmed growing speculations of a made-in-America crypto reserve, adding Ethereum, XRP, Solana, and Cardano to the assets in the reserve.
Meanwhile, Saylor has suggested that Trump’s adoption of a liberal economic policy for digital assets is bullish for Bitcoin regardless. The Strategy executive chairman insisted that what mattered the most was America’s progressive policies towards adopting digital assets, which he speculated would be worth $100 trillion to the country.
It bears mentioning that Saylor’s approval of a multi-coin reserve goes against his initial stance on other digital assets. For context, he once called XRP an unregistered security and lauded the US Securities and Exchange Commission’s (SEC) clampdown on the asset and other altcoins.
However, his changing tone might reflect a sudden realization of XRP’s roles in the US crypto sector. Nonetheless, this narrative remains speculative.
Widespread Criticism of a Multi-Coin Reserve
Despite the bullish momentum that emanated from the announcement, key industry leaders still feel that pairing Bitcoin with altcoins in the national reserve is futile. Notably, most of the backlash hinges on the purported centralized nature of the other assets, particularly because they have issuers.
For context, Gemini co-founder Tyler Winklevoss argued yesterday that XRP, Solana, and Cardano do not meet the requirements of a crypto strategic reserve. According to him, Bitcoin is the only asset that is suitable for such a massive enterprise at the moment.
I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve. Only one digital asset in the world right now meets the bar and that digital asset is bitcoin.
Many of these assets are listed for trading on @Gemini and meet our rigorous… pic.twitter.com/q32qlaFDKJ
— Tyler Winklevoss (@tyler) March 3, 2025
Furthermore, crypto critic Peter Schiff acknowledged Bitcoin’s digital gold properties on a rare occasion but questioned XRP’s inclusion in the US crypto reserve proposal. Meanwhile, Cardano founder Charles Hoskinson has since responded to Schiff’s roar.
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