- Michael Saylor, once a Bitcoin maximalist, now supports a multi-token crypto reserve, including XRP and Cardano.
- Critics argue that Bitcoin should remain the sole reserve asset, questioning the inclusion of altcoins.
- The U.S. crypto reserve decision could influence future regulations and reshape market dynamics.
Michael Saylor, known for his unwavering Bitcoin maximalism. He has shocked the crypto community by supporting a multi token cryptocurrency reserve that includes XRP and Cardano. In a recent CNBC interview with Sara Eisen, the Strategy co-founder described this development as “bullish” for Bitcoin and the broader digital asset industry.
Saylor’s Unexpected Shift on XRP
Saylor, who once dismissed altcoins and branded XRP as an “unregistered security,” has now supported the addition of several assets to the U.S. crypto reserve. This follows after the confirmation by former President Donald Trump that the reserve. Which initially concentrated on Bitcoin only, would now add Ethereum, XRP, Solana, and Cardano.
The billionaire highlighted that the most important implication of this move is America’s embracing of a progressive digital asset policy, which he opines can unlock a $100 trillion market opportunity. His attitude implies a possible recognition of XRP’s importance in the changing crypto landscape.
Despite Saylor’s backing, the multi-coin reserve has been criticized by some industry leaders. Key Bitcoin proponents contend that Bitcoin alone must be the reserve’s foundation. That is considering it is decentralized and “digital gold.”
Gemini co-founder Tyler Winklevoss said that XRP, Solana, and Cardano fail the test of a strategic reserve asset. Meanwhile, Bitcoin critic Peter Schiff, while admitting the store-of-value characteristics of Bitcoin, asked why XRP was included.
Charles Hoskinson Defends XRP
Cardano creator Charles Hoskinson, a person who has been at odds with the XRP community previously, unexpectedly defended XRP’s place. He was complimentary of its toughness, adding that it had endured ten years of difficulty and built up a robust global network.
With the U.S. gravitating towards a more extensive crypto reserve policy, this move has the potential to redefine regulatory and investment patterns in the sector. Whether this will solidify Bitcoin’s grip or validate altcoins is yet to be determined. One thing, however, is certain Saylor’s change of heart marks a significant watershed moment in the crypto world.
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