Key Points
- Ripple is accused by Bitcoin maxis of ‘undermining’ a proposed U.S BTC strategic reserve.
- XRP has outperformed Bitcoin by +330% since November 2024, despite the controversy.
The crypto community is in disagreement over the concept of a “national crypto stockpile”. Bitcoin maxis have accused Ripple of attempting to sabotage an exclusive U.S BTC strategic reserve.
Ripple in the Crosshairs
Jack Mallers of Strike recently alleged in a post that Ripple has spent millions to sideline Bitcoin. He accused Ripple of lobbying against a Bitcoin Strategic Reserve in the U.S while pushing their centralized token.
This comes after President Donald Trump issued an executive order to create a national digital asset stockpile to boost digital financial innovation in the United States. This could be implemented within 180 days after a working group finalizes a legislative framework.
The crypto community has speculated about the potential creation of a U.S crypto reserve, including XRP, HBAR, SOL, ADA, among others. However, the differing views among key players have become apparent.
Ripple, Kraken, and Circle have been competing for a place in President Trump’s Crypto Council. However, the allegations extend beyond this.
One user argued that unlike gold and Bitcoin, which are scarce and not centralized, XRP’s supply is primarily controlled by Ripple and doesn’t fit the criteria for a reserve asset.
Ryan Selkis, Co-founder of Messari, criticized Ripple’s leadership for supporting Democratic senators in the last election. This, despite the infamous enforcement actions from previous Democrat-led SEC.
Bitcoin Critic’s View
Long-time Bitcoin critic Peter Schiff downplayed the call for an exclusive SBR, stating that it would not solve U.S fiscal deficits. He argued that the government buying Bitcoin would only benefit Bitcoin owners who sell their tokens to the government at the expense of everyone else.
In the meantime, Polymarket’s odds of a U.S XRP reserve in 2025 were just 21%, compared to 60% for SBR. However, on the XRP/BTC chart, XRP has outperformed Bitcoin by +330% since last November.
The pair hit its 2021 cycle peak, something that could trigger a reversal or a blow-off top.
