Bitcoin or US-Crypto Strategic Reserve? Ripple, Riot Execs Argue Over Exclusivity

Key Takeaways

• Ripple is accused of lobbying against an exclusive Bitcoin reserve.
• Ripple CEO says the company supports a mixed crypto reserve, including Bitcoin and U.S.-based crypto assets.
• Riot Blockchain executive alleges Ripple derailed the strategic Bitcoin reserve (SBR) for self-serving interests.

Ripple has found itself under fire, accused of undermining efforts to establish an exclusive Bitcoin (BTC) reserve as part of the U.S. government’s proposed digital asset stockpile.

Pierre Rochard, vice president of research at Bitcoin mining giant Riot Blockchain, claimed Ripple is using its influence to steer the narrative toward a broader crypto reserve that would include assets like XRP.

Rochard’s allegations surfaced after President Donald Trump issued an executive order on Jan. 23, establishing a crypto working group tasked with exploring the creation of a digital asset stockpile.

Unlike earlier proposals that focused on Bitcoin as a strategic reserve, the directive called for a more inclusive approach to crypto assets, sparking controversy among Bitcoin advocates.

Ripple Accused of Undermining Bitcoin’s Role

Rochard did not mince words in his criticism, calling Ripple the “biggest threat” to a national Bitcoin reserve. In a post on X , he alleged that Ripple had poured millions of dollars into lobbying efforts aimed at derailing the idea of an exclusive Bitcoin reserve.

The Riot exec shared that Ripple’s aggressive lobbying is a calculated move to undercut Bitcoin and promote their interests.

He also pointed to Ripple’s past efforts under the Biden administration, when the firm allegedly supported initiatives to shift Bitcoin’s mining consensus from Proof-of-Work (PoW) to Proof-of-Stake (PoS).

According to Rochard, Ripple’s goal is to control the narrative on crypto adoption while promoting central bank digital currencies (CBDCs) built on their platform.

Ripple’s ties to the Trump administration have also raised eyebrows, particularly given the company’s significant donations during the recent election season.

Critics suggest that these connections may have influenced the shift from a Bitcoin-exclusive reserve to a broader digital asset strategy.

Ripple CEO Defends Broader Crypto Reserve

In response to the allegations, Ripple CEO Brad Garlinghouse defended his company’s position, emphasizing the need for a crypto reserve that reflects the diversity of U.S.-based digital assets.

He added that Ripple is working toward a strategic reserve that includes Bitcoin while supporting American innovation.

Garlinghouse dismissed claims that Ripple’s lobbying efforts undermined Bitcoin, insisting that the company’s actions align with the administration’s broader vision of fostering a competitive digital economy.

However, the proposal has divided the crypto community.

A Divided Crypto Community

Bitcoin proponents argue that an exclusive Bitcoin reserve is the logical choice.

As the first cryptocurrency, Bitcoin has a proven track record of resilience and growth. Its adoption as a treasury reserve by more than 60 publicly listed companies underscores its reliability.

In contrast, critics of a mixed crypto reserve highlight the risks associated with altcoins like XRP.

These assets, they argue, are centralized and lack the transparency and stability of Bitcoin.

Moreover, many altcoins, including XRP, have faced regulatory scrutiny, with Ripple itself embroiled in a high-profile legal battle with the SEC over securities law violations.

The Road Ahead

Fox reporter Eleanor Terrett revealed that the digital asset stockpile remains in the proposal stage. The White House is reportedly conducting a feasibility analysis before moving forward.

Whether the U.S. adopts a Bitcoin-exclusive reserve or a diversified crypto stockpile, the decision will likely have far-reaching implications for the crypto industry.

For now, the debate continues, with Ripple’s role under intense scrutiny and Bitcoin advocates rallying to protect its primacy in the digital economy.