A recent executive order from the US President aimed to create a “digital asset strategic reserve,” sparking a heated debate online, particularly regarding Ripple’s role.
The Accusation: Ripple’s Sabotage?
Pierre Rochard, a prominent figure in the crypto space, accused Ripple of being the biggest obstacle to a Bitcoin-only reserve. He claimed Ripple is spending millions lobbying against it, favoring a broader “crypto reserve” that would include XRP. Rochard highlighted Ripple’s past actions, including co-founder Chris Larsen’s funding of anti-Bitcoin mining campaigns.
Ripple’s Rebuttal: Supporting a Broader Reserve
Ripple CEO Brad Garlinghouse countered these accusations, stating that Ripple’s efforts actually increase the chances of a crypto reserve, including Bitcoin. He argued this aligns with the President’s support for American companies and technologies.
The Debate Heats Up
Rochard challenged Garlinghouse’s claims, questioning his personal XRP investments and providing further evidence of Ripple’s lobbying for a diversified reserve, not a Bitcoin-only one. He shared a video of Garlinghouse endorsing this broader approach and cited articles detailing Ripple’s past anti-Bitcoin campaigns. Other industry figures, like Ryan Selkis, agreed with Rochard, arguing that only Bitcoin is suitable for a strategic reserve.
The Core of the Conflict: Bitcoin vs. a Diversified Reserve
The core issue is the type of reserve the US government should create. Rochard and others believe a Bitcoin-only reserve is the most strategic approach. Ripple, on the other hand, advocates for a more diverse reserve that includes XRP and potentially other cryptocurrencies. This disagreement has led to a significant clash, with accusations of lobbying and sabotage flying between both sides.
