Crypto Leaders Debate on US Reserve Allocation, Coinbase CEO Weighs BTC’s Potential
President Trump’s recent announcement to feature altcoins for crypto strategic reserves has generated both criticism and enthusiasm among the community.
On Sunday, Trump took to his social media platform Truth Social, announcing that crypto strategic reserve will feature XRP, Solana (SOL), and Cardano (ADA).
Following his stance, Coinbase CEO Brian Armstrong emphasised that only Bitcoin would make the “best option” for the proposed reserve. He highlighted Bitcoin’s potential as a cornerstone asset, describing it as a “successor to gold.”
“Just Bitcoin would probably be the best option — simplest, and clear story as successor to gold,” he wrote on X. “If folks wanted more variety, you could do a market cap weighted index of crypto assets to keep it unbiased.”
Armstrong’s endorsement of Bitcoin aligns with a broader sentiment regarding BTC’s growing position as ‘digital gold.’
Experts Opinion on Bitcoin Vs Asset Diversification
Meanwhile, Arthur Hayes, co-founder of BitMEX, dismissed the announcement, arguing there is “nothing new.”
“Nothing new here. Just words,” he wrote on X, highlighting the impact of such proposals that lack congressional backing.
“[Let me know] when they get congressional approval to borrow money and or revalue the gold price higher. Without that, they have no money to buy Bitcoin and shitcoins.”
Several Bitcoin advocates have criticized the choice of altcoins, accusing the President of being swayed away by corporate-backed cryptos.
Crypto veteran and CEO of JAN3 Samson Mow said that it is a “sad day for America” adding that “Hypershitcoinization awaits.”
“Bitcoin might be up but it’s a sad day for America if they actually shitcoin at a nation-state level,” he wrote on X. “I can’t really say I’m surprised though, with Trump having launched a memecoin.”
Mow also criticised the selection of assets for a strategic reserve fund, arguing that adding altcoins would only fulfill specific projects and not the nation.
Bitcoin Advocates Laud Crypto Reserve’s Composition
Trump’s embrace of Bitcoin and Ether as “valuable cryptocurrencies” as the “heart of the Reserve,” has sparked a rally in the crypto market.
Federico Brokate, head of U.S. business at 21Shares, sees this as the “potential to accelerate institutional adoption.” He told Reuters that this would provide greater regulatory clarity, and strengthen the U.S.’s leadership in digital asset innovation.
Additionally, Binance founder Changpeng Zhao welcomed the move, calling it “a fantastic start of something really good.”
“Chill guys. No need to overanalyze,” he wrote on X. “More ‘valuable crypto’ are likely to be added over time. More countries will follow.”
Besides, James Butterfill, head of research at asset manager CoinShares, noted that he was surprised to see more altcoins added to the reserve plan.
“Unlike bitcoin…these assets are more akin to tech investments,” Butterfill told Reuters.
“The announcement suggests a more patriotic stance toward the broader crypto technology space, with little regard for the fundamental qualities of these assets.”
The post Crypto Leaders Debate on US Reserve Allocation, Coinbase CEO Weighs BTC’s Potential appeared first on Cryptonews.
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Crypto Leaders Debate on US Reserve Allocation, Coinbase CEO Weighs BTC’s Potential
President Trump’s recent announcement to feature altcoins for crypto strategic reserves has generated both criticism and enthusiasm among the community.
On Sunday, Trump took to his social media platform Truth Social, announcing that crypto strategic reserve will feature XRP, Solana (SOL), and Cardano (ADA).
Following his stance, Coinbase CEO Brian Armstrong emphasised that only Bitcoin would make the “best option” for the proposed reserve. He highlighted Bitcoin’s potential as a cornerstone asset, describing it as a “successor to gold.”
“Just Bitcoin would probably be the best option — simplest, and clear story as successor to gold,” he wrote on X. “If folks wanted more variety, you could do a market cap weighted index of crypto assets to keep it unbiased.”
Armstrong’s endorsement of Bitcoin aligns with a broader sentiment regarding BTC’s growing position as ‘digital gold.’
Experts Opinion on Bitcoin Vs Asset Diversification
Meanwhile, Arthur Hayes, co-founder of BitMEX, dismissed the announcement, arguing there is “nothing new.”
“Nothing new here. Just words,” he wrote on X, highlighting the impact of such proposals that lack congressional backing.
“[Let me know] when they get congressional approval to borrow money and or revalue the gold price higher. Without that, they have no money to buy Bitcoin and shitcoins.”
Several Bitcoin advocates have criticized the choice of altcoins, accusing the President of being swayed away by corporate-backed cryptos.
Crypto veteran and CEO of JAN3 Samson Mow said that it is a “sad day for America” adding that “Hypershitcoinization awaits.”
“Bitcoin might be up but it’s a sad day for America if they actually shitcoin at a nation-state level,” he wrote on X. “I can’t really say I’m surprised though, with Trump having launched a memecoin.”
Mow also criticised the selection of assets for a strategic reserve fund, arguing that adding altcoins would only fulfill specific projects and not the nation.
Bitcoin Advocates Laud Crypto Reserve’s Composition
Trump’s embrace of Bitcoin and Ether as “valuable cryptocurrencies” as the “heart of the Reserve,” has sparked a rally in the crypto market.
Federico Brokate, head of U.S. business at 21Shares, sees this as the “potential to accelerate institutional adoption.” He told Reuters that this would provide greater regulatory clarity, and strengthen the U.S.’s leadership in digital asset innovation.
Additionally, Binance founder Changpeng Zhao welcomed the move, calling it “a fantastic start of something really good.”
“Chill guys. No need to overanalyze,” he wrote on X. “More ‘valuable crypto’ are likely to be added over time. More countries will follow.”
Besides, James Butterfill, head of research at asset manager CoinShares, noted that he was surprised to see more altcoins added to the reserve plan.
“Unlike bitcoin…these assets are more akin to tech investments,” Butterfill told Reuters.
“The announcement suggests a more patriotic stance toward the broader crypto technology space, with little regard for the fundamental qualities of these assets.”
The post Crypto Leaders Debate on US Reserve Allocation, Coinbase CEO Weighs BTC’s Potential appeared first on Cryptonews.
Read More