{"id":49408,"date":"2025-03-04T08:32:51","date_gmt":"2025-03-04T08:32:51","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=49408"},"modified":"2025-03-04T08:32:51","modified_gmt":"2025-03-04T08:32:51","slug":"gemini-ceo-says-bitcoin-could-be-the-only-us-reserve-grade-crypto","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=49408","title":{"rendered":"Gemini CEO Says Bitcoin Could Be The Only US Reserve-Grade Crypto"},"content":{"rendered":"

The CEOs of leading crypto exchanges Coinbase and Gemini believe that Bitcoin is the only digital asset that qualifies as a U.S. reserve asset. <\/span><\/p>\n

Their comments come in response to former President Donald Trump\u2019s recent proposal to create a Crypto Strategic Reserve that would include Bitcoin alongside Solana (SOL), Cardano (ADA), XRP (XRP), and Ethereum (ETH).<\/span><\/p>\n

\u201cOnly one digital asset in the world right now meets the bar, and that digital asset is Bitcoin,\u201d said Gemini co-founder Tyler Winklevoss\u00a0 in a 3\u00a0<\/span>March 2025 post on X<\/span><\/a>.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n

Winklevoss: Only \u2018Hard Money\u2019 Like Bitcoin Qualifies as a Reserve Asset<\/span><\/h2>\n

While acknowledging the legitimacy of other cryptocurrencies, Winklevoss argued that a reserve asset must be \u201chard money\u201d with a proven store-of-value status, similar to gold.<\/span><\/p>\n

Coinbase CEO Brian Armstrong echoed Winklevoss\u2019 sentiment, emphasizing Bitcoin\u2019s simplicity and <\/span>its<\/span> reputation as \u201ca clear successor to gold.\u201d<\/span><\/p>\n

However, Armstrong suggested that if the US were to diversify its reserve holdings, it should consider a market cap-weighted index of cryptocurrencies to avoid bias.<\/span><\/p>\n

Excited to learn more. Still forming an opinion on asset allocation, but my current thinking is:<\/p>\n

1. Just Bitcoin would probably be the best option \u2013 simplest, and clear story as successor to gold
2. If folks wanted more variety, you could do a market cap weighted index of crypto\u2026 https:\/\/t.co\/jv8Gcn8N2S<\/a><\/p>\n

\u2014 Brian Armstrong (@brian_armstrong) March 3, 2025<\/a><\/p>\n\n

Cameron Winklevoss, co-founder of Gemini and Tyler\u2019s twin brother, added that Ethereum might also qualify for the Crypto Strategic Reserve, comparing Bitcoin to digital gold and Ethereum to digital oil.<\/span><\/p>\n

He likened this to the US government\u2019s traditional reserves of gold (held at Fort Knox and the New York Federal Reserve) and oil (stored in the Strategic Petroleum Reserve). <\/span><\/p>\n

However, he noted that assets like XRP, ADA, and SOL would be better suited for stockpiling rather than active purchasing in open markets.<\/span><\/p>\n

Meanwhile, Samson Mow, CEO of Bitcoin technology firm Jan3, advocated for a reserve composed exclusively of proof-of-work (PoW) cryptocurrencies like Bitcoin and Litecoin. <\/span><\/p>\n

Mow argued that proof-of-stake (PoS) assets are vulnerable to foreign manipulation since <\/span>control can be acquired<\/span> simply by holding a majority stake in the asset. \u201cReserve assets must be based on Proof of Work to ensure fundamental integrity and assurance of immutability,\u201d Mow said.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n

Cardano And Ripple Defend Inclusion In Crypto Reserve<\/span><\/h2>\n

Not all industry leaders oppose Trump\u2019s proposed inclusion of assets beyond Bitcoin and Ethereum. <\/span><\/p>\n

When crypto critic Peter Schiff questioned XRP\u2019s place in the reserve, Cardano founder Charles Hoskinson defended it, calling XRP \u201ca global standard\u201d that has \u201csurvived for a decade through many harsh cycles\u201d and has \u201cone of the strongest communities.\u201d<\/span><\/p>\n

Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision<\/p>\n

\u2014 Charles Hoskinson (@IOHK_Charles) March 2, 2025<\/a><\/p>\n\n

Ripple CEO Brad Garlinghouse has <\/span>also<\/span> long advocated for a multi-token reserve. He argues that a diverse approach would strengthen the US position.<\/span><\/p>\n

The Crypto Strategic Reserve proposal follows weeks of evaluation by Trump\u2019s Working Group on Digital Assets. <\/span><\/p>\n

The initiative will take center stage at the upcoming White House Crypto Summit <\/span>on 7 March 2025. The <\/span>industry leaders will meet key figures such as Bo Hines and Trump\u2019s AI and crypto policy advisor, David Sacks. <\/span><\/p>\n

The summit will address regulatory policies, and stablecoin oversight.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n

\n

Key Takeaways<\/h3>\n

Coinbase and Gemini CEOs argue that Bitcoin is the only cryptocurrency suitable as a U.S. reserve asset.<\/span> <\/p>\n

Samson Mow insists that <\/span>only proof-of-work assets like Bitcoin and Litecoin should be included<\/span>.<\/span> <\/p>\n

Cardano and Ripple executives defend the inclusion of their tokens in Trump\u2019s proposed Crypto Strategic Reserve.<\/span> <\/p><\/div>\n

The post Gemini CEO Says Bitcoin Could Be The Only US Reserve-Grade Crypto<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The CEOs of leading crypto exchanges Coinbase and Gemini believe that Bitcoin is the only digital asset that qualifies as a U.S. reserve asset. Their comments come in response to former President Donald Trump\u2019s recent proposal to create a Crypto Strategic Reserve that would include Bitcoin alongside Solana (SOL), Cardano (ADA), XRP (XRP), and Ethereum […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49408","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/49408"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49408"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/49408\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}