Brad Garlinghouse Advocates for a Diverse U.S. Digital Asset Reserve
Brad Garlinghouse, the CEO of Ripple Labs, has recently expressed his support for the establishment of a U.S. digital asset reserve that would encompass a variety of tokens rather than focusing solely on bitcoin or XRP. In a statement made on the social media platform X, he emphasized, “I own XRP, BTC, and ETH, along with several other cryptocurrencies. We live in a multichain world, and I’ve consistently advocated for a level playing field where multiple tokens can coexist rather than pitting one against another.”
Garlinghouse further elaborated on his vision, stating, “If a government digital asset reserve were to be created, I believe it should be representative of the entire industry, encompassing more than just one token, whether that be BTC, XRP, or any other cryptocurrency.”
Last week, former U.S. President Donald Trump indicated that his administration would consider the creation of a national digital asset stockpile, a concept he had previously endorsed in the lead-up to the upcoming November elections. The cryptocurrency market is watching closely, with many anticipating that any potential reserve would prominently feature bitcoin, given its status as the leading digital asset by market capitalization and its growing institutional adoption.
Currently, traders engaging on the decentralized betting platform Polymarket are estimating just a 17% chance that Trump will initiate the project within the first 100 days of his new administration. However, Garlinghouse remains critical of the maximalist approach that posits bitcoin as the sole viable candidate for a national reserve, stating, “Maximalism remains the enemy of crypto progress, and I’m very glad to see fewer and fewer individuals subscribing to this outdated and misinformed perspective.”
Ripple utilizes XRP to facilitate cross-border payments and remittances, highlighting the token’s practical applications in the financial sector. Recently, XRP was trading at $3.09, having experienced a significant drop of nearly 10% to $2.65 earlier this week, according to data from CoinDesk.
