Cardano founder Hoskinson spoke about the US government’s decision to create a strategic crypto currency reserve and XRP. Although assets such as Bitcoin and Ethereum on the reserve were generally accepted, the addition of the XRP to the list caused controversy. In particular, some names in the financial world questioned why XRP is considered a strategic asset.
XRP’s place in the reserve created controversy
US President Donald Trump announced on March 2, Bitcoin, Ethereum, Solana, Cardano and XRP on the national crypto currency reserve. This decision led to different reactions between economists and sector representatives.
Especially the famous economist and gold defender Peter Schiff reacted to the place of XRP on the reserve. Although Schiff is against Bitcoin reserves, it is a logical reason because it is accepted as digital gold. However, he said he did not share the same opinion for XRP.
Peter Schiff’s XRP Criticism
Schiff, comparing the US’s existing gold reserves and Bitcoin reserves, “It is possible to see Bitcoin as digital gold. I don’t agree with this, but I understand the logic. But why should we keep XRP on the reserve? What justification could this be? “He said.
In the traditional financial world, Bitcoin is seen as a value storage tool, while XRP still has question marks about its usage areas and its strategic importance. This increases the criticism of XRP’s involvement in the reserve.
Unexpected support from Charles Hoskinson to XRP
Cardano’s founder Charles Hoskinson responded to Schiff’s criticism. Hoskinson, who previously experienced some disputes with the XRP community, supported Ripple’s crypto currency this time.
Hoskinson made the following statement by drawing attention to the technological infrastructure of XRP, staying on the market for a long time, and powerful community:
“XRP has become a global standard with a great technology, standing in many challenging markets and has a strong community. I think the president has made the right decision. “
The reaction of the crypto community
Hoskinson’s support for XRP was met with surprise in the crypto world. David Schwartz, Ripple’s Chief Technology Officer, to Hoskinson’s statement “Do I see a dream?!”replied.
Schwartz’s reaction drew attention due to disputes between Cardano and XRP communities in the past. This development led to comments that leaders in the sector could enter a new era in inter -project relations.
