Bitcoin critics are raising questions about the growing trend of crypto treasury strategies involving assets like XRP and Ethereum, in addition to BTC.

The debate gained momentum after SharpLink Gaming, one of the first companies to adopt an Ethereum-based corporate reserve model, suffered a shocking 73% drop in after-hours trading. The collapse has reignited discussions about which digital assets are truly suitable for institutional treasuries.

In a tweet, Bitcoin proponent Steven Lubka pointed to SharpLink’s plunge as evidence that BTC remains the only reliable reserve asset. His statement suggests that altcoins like Ethereum are unsuitable for long-term corporate balance sheets, and financial expert Gary Cardone agrees with this opinion.

Cardone weighed in on the conversation by turning the spotlight on Ripple. He questioned why Ripple has not transitioned into a company with an XRP reserve strategy, especially if the token is expected to appreciate dramatically and replace SWIFT as the global payments backbone.

Specifically, Cardone argues that if XRP truly has the potential to reach heights like $8,000, as suggested by some, then Ripple should already be leveraging the token as its core reserve asset. 

For him, the fact that Ripple has not done so raises doubts about how much confidence the company itself places in XRP’s long-term value.

XRP Army Reacts

Unsurprisingly, Cardone’s comments did not go unanswered by XRP enthusiasts. Jason Jude called the criticism both contradictory and uninformed. He pointed out the irony of demanding that Ripple move to an XRP reserve model while critics often complain that Ripple already owns too much XRP.

This commentary highlighted the inconsistency among critics who question Ripple’s 40% XRP holdings yet expect the company to rely even more heavily on it as a reserve strategy.

Others accused Cardone of letting his Bitcoin-only bias cloud his judgment. Several community members argued that dismissing XRP could become one of his biggest investment regrets.

Corporate Momentum Builds Behind XRP

Despite the criticism, XRP continues to gain traction as a treasury asset among Nasdaq-listed firms. Several companies actively integrate XRP into their financial strategies, aligning with the push to diversify beyond Bitcoin.

For instance, Trident Digital Tech Holdings is raising $500 million to build one of the first major XRP treasuries. Also, Webus International in China is seeking $300 million in credit and plans to integrate Ripple’s payment solutions.

VivoPower International has earmarked $100 million from its latest private round, while Wellgistics Health has secured a $50 million credit line for XRP accumulation.

This growing institutional interest suggests that some companies are betting on XRP as a payment utility and a long-term store of value.

Treasury Strategy Works for Altcoins

Meanwhile, the broader crypto community is also challenging Lubka’s claim that BTC is the only viable treasury asset in the wake of SharpLink Gaming’s fallout.

Specifically, Solana enthusiasts cited data showing that DeFi Development Corp has experienced a massive 3,657% year-to-date gain after adopting a SOL-based strategy months ago.

Even SharpLink Gaming’s monthly chart shows an impressive 882% gain, undermining the narrative that Bitcoin proponents are pushing.

You are here ⬇️ pic.twitter.com/80e2Bzphkc

— Cory Klippsten 🦢 Swan.com (@coryklippsten) June 13, 2025

US politician and former congressional candidate Greg Kidd says he is working on a bank charter that could allow firms like Ripple to get banking licenses.

Kidd, a co-founder of Haka Yaka Ventures and owner of Vast Bank, said this at the just-concluded XRP Las Vegas conference. In a one-on-one interview with journalist Eleanor Terrett, Kidd discussed his involvement in politics and revealed efforts to introduce this new type of bank charter.

A New Bank Charter that Could Allow Ripple to Procure a Banking License

Kidd explained that although he no longer runs for office, he still works closely on financial legislation. He’s now focused on creating a special charter designed strictly for banks that deal only with deposits and payments. It eliminates the need for physical branches or lending.

Ripple could get a banking license.

Because the cost of price in payments is almost zero on the XRPLedger.
There is no reason that payments shouldn`t be universally accessible and the price charge should be zero. It`s like a public good.

Banking is just basically like… pic.twitter.com/hZNSfpzpkd

— Digital Perspectives (@DigPerspectives) June 12, 2025

This idea aims to make it easier for digital-first businesses to enter the space. He said this new approach would give companies like Ripple a path to owning a banking license, even though he clarified he wasn’t speaking for Ripple or suggesting they plan to apply. 

Notably, his larger goal is to break up the dominance that traditional banks hold and make banking more accessible to new firms, whether they’re digital wallets, remittance companies, or even major retailers. 

Greg Kidd: Cost of Moving Money Should be Minimal

Speaking further, Kidd pointed out that the cost of processing payments on the XRP Ledger is nearly zero, so the price of sending money should reflect that. He sees payments as something that should work like a public utility: low-cost and available to everyone.

Interestingly, Kidd criticized the current system, where only a few people, including himself and Jackie Reses from Lead Bank, have managed to secure banking licenses under the Biden administration. 

The American entrepreneur called for a return to a time when competition, innovation, and inclusion drove the banking sector before the financial crisis of 2008 disrupted it.

Ripple and the Banking Scene

Meanwhile, Ripple has already made moves within the banking sector. In June 2024, the company became a Platinum Member of the American Bankers Association (ABA).

This top membership gives Ripple greater visibility and stronger access to banking leaders and policymakers, putting the blockchain payment firm in a better position to influence the direction of financial services.

Moreover, Ripple CEO Brad Garlinghouse, speaking at the same Las Vegas event, confirmed that the firm plans to rewire the banking system. According to him, Ripple wants to help banks move money faster and more cheaply by cutting out intermediaries and removing the need for pre-funded accounts. 

Garlinghouse stressed that Ripple doesn’t aim to replace banks. Instead, the firm wants to work with them to speed up and simplify cross-border payments.

Putting the Banking Industry On-chain

Meanwhile, during his interview, Kidd also discussed Vast Bank, his latest venture. He explained that the reason he decided to buy a U.S. bank was to put real U.S. dollars directly on the blockchain. 

He believes this will replace outdated banking ledgers with secure, real-time records on networks like the XRP Ledger. These on-chain dollars, backed by FDIC insurance and regulatory protections, could become available to people around the world.

Kidd also revealed that he invested in the Bank of London and is closing a deal in Europe. His goal is to bring dollars, pounds, and euros onto blockchain networks so that banking can run non-stop, 24/7, with digital money that never leaves the chain.

Crypto pioneer and former Ripple exec Greg Kidd outlines a vision for blockchain-powered banking, suggesting Ripple could transform traditional finance by absorbing outdated institutions.

Kidd shared these insights at the third annual XRP Las Vegas conference during a fireside chat with journalist Eleanor Terrett. He reflected on his early days with Ripple and described a future beyond crypto as a speculative asset. For him, the endgame is full integration of blockchain into the core of the global financial system.

Kidd recalled that when he joined Ripple in 2012, there were only 188 accounts on the ledger. 

“It was like being there with the disciples,” he said. “But even then, the vision was clear: money should move at the speed of the internet.”

Vast Bank, Tokenized Dollars, and a New Financial Backbone

Today, Kidd leads an initiative to bring the banking system on-chain by acquiring Vast Bank, a nationally chartered institution regulated by the OCC and the Federal Reserve. He aims to issue FDIC-insured U.S. dollar deposit tokens directly on blockchain networks, including the XRP Ledger.

Unlike stablecoins, which must be backed 1:1 and are limited in scope, Kidd’s approach leverages fractional reserve banking.

We’re eight times more capital efficient than stablecoins,” he said. “And we can pay interest, offer consumer protections, and keep money moving around the clock.”

This on-chain model serves crypto-native developers and users while undercutting the legacy system’s inefficiencies.

Kidd sees a world where people everywhere can hold and use digital U.S. dollars that never technically leave the banking system, even when sent across borders. He argues that if funds remain on the ledger and in dollar form, traditional remittances become obsolete. 

Open Banking and Fair Access

The conversation also touched on the evolution of U.S. financial regulation since the 2024 election. Kidd credited the new administration with removing “reputational risk” from federal exam guidelines. This obstacle had previously kept many legal industries, including crypto, cannabis, and adult content, out of the banking system.

“We call them the consensual vices,” he said. “If you’re legal and licensed, you should be banked. Period.”

Meanwhile, Kidd’s political activism hasn’t slowed. He now advocates for a new banking charter focused solely on deposits and payments. This would allow fintech firms like Ripple to obtain banking licenses without building brick-and-mortar branches or issuing loans.

Kidd eyes a future where banking is as accessible and seamless as breathing air.

“Payments should be free. Banking should be universal. And blockchain makes that possible,” he said. “What Ripple and others are doing now is building that future.”

Ripple to Put Legacy Companies Out of Their Misery

As Ripple expands its investments and navigates global markets post-lawsuit, Kidd predicts the company will play a central role in overhauling traditional finance.

When asked where he sees Ripple in ten years, Kidd said the company will become a fully integrated blockchain firm. He even suggested Ripple may someday buy up some legacy companies and “put them out of their misery.”

By that, he means acquiring financial institutions still operating on outdated infrastructure and migrating them onto more efficient blockchain rails.

🚨Where do you see Ripple in 10yrs?

I think Ripple may some day buy up some Legacy companies and put them out of their misery.-Greg Kidd

XRPLasvegas2025.

Lock in.😎👇 pic.twitter.com/fNZM5nSNso

— Digital Perspectives (@DigPerspectives) June 12, 2025

His comments highlight Ripple’s long-term ambition not just to challenge but to absorb and transform legacy financial infrastructure.

Matthew Snider, CIO of Digital Wealth Partners, has issued a new warning after Trident Digital announced plans to create a $500 million XRP treasury. 

Yesterday, The Crypto Basic reported that Trident intends to raise $500 million through the issuance of stocks and other financial instruments to establish an XRP reserve. 

Trident’s XRP treasury initiative will commence in the second half of this year, pending regulatory approval. In the meantime, Trident, whose shares trade on Nasdaq, is discussing with other firms and investors the development of an appropriate strategy for its XRP reserve. 

This includes identifying the best terms for acquiring XRP and setting up the reserve’s infrastructure. Following the announcement, Trident joined many public companies in adopting XRP as a reserve asset. 

Publicly listed companies such as Webus International, Wellgistics Health, and VivoPower have also announced plans to create corporate treasuries for XRP. 

XRP Supply Squeeze Incoming? 

Amid growing interest in XRP among corporate entities, Snider warned that retail investors may soon find no XRP left to accumulate through dollar-cost averaging (DCA). 

For context, DCA is a strategy that enables investors to purchase small amounts of an asset at regular intervals, typically to lower their average cost over time by buying when prices dip below their initial entry point.

With several corporations signaling their intent to buy and hold millions of dollars’ worth of XRP in reserves, the amount of XRP available for open market trading could steadily decline.

As a result, according to Snider, investors may soon find there is not much XRP left to accumulate via DCA. While this could potentially drive XRP’s price higher, retail investors might be squeezed out of the opportunity to adopt the coin.

Essentially, Snider’s message warns retail investors to seize the moment and grow their XRP portfolios before more big players lock up too much of the coin’s supply.

How Much XRP Is Ideal to Hold?

Most investors believe XRP has what it takes to transform the financial futures of patient holders. Notably, some experts, such as Linda P. Jones suggested that XRP could reward patient investors with generational wealth. 

Amid this growing optimism, many community members have been asking about the minimum amount of XRP one should hold to significantly improve their financial status. According to Edo Farina, founder of Alpha Lions Academy, investors should aim to hold at least 1,000 XRP.

Meanwhile, other commentators like King Vale believe that 50,000 XRP should be the minimum to effectively position oneself for financial success. Given that this investment, worth over $100,000, is out of reach for many, some push back against such requirements. Critics like Xena reject arbitrary numbers, calling them ego-driven and lacking a rational foundation.