Peter Schiff Questions the Inclusion of XRP in US Crypto Reserve

Renowned economist and well-known Bitcoin critic Peter Schiff has questioned the rationale behind the inclusion of XRP in the cryptocurrency reserve announced by United States President Donald Trump on Sunday. 

On Sunday, the president confirmed that the U.S. would establish a strategic crypto reserve, with Bitcoin and Ethereum being at the heart of the reserve along with other assets such as XRP, Solana, and Cardano. The announcement aligns with Trump’s campaign promises, in which he declared plans to make America the crypto capital of the world. 

Peter Schiff Questions XRP Reserve

As expected, the announcement stirred mixed reactions, with Schiff questioning the rationale behind establishing an XRP reserve. He acknowledged that while he does not personally agree with holding Bitcoin as a reserve asset, he understands the logic behind the decision.

I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let’s create a Bitcoin reserve too. But what’s the rationale for an XRP reserve? Why the hell would we need that?

— Peter Schiff (@PeterSchiff) March 2, 2025

He drew a parallel between the leading cryptocurrency and gold, saying that Bitcoin is the digital gold. Since the U.S. already holds gold reserves as a store of value, he understands the need to establish a national reserve for Bitcoin, suggesting that the asset is better than the precious yellow metal. However, he struggles to understand the rationale behind President Trump’s order to create an XRP reserve. 

Notably, Schiff was not alone in his skepticism, as many crypto enthusiasts joined him in questioning the decision to establish a multi-token cryptocurrency reserve, specifically taking aim at XRP.

Cardano Co-Founder Defends President’s XRP Decision

In response to Schiff’s post, Cardano founder Charles Hoskinson highlighted certain attributes of XRP to justify why the president wants it included in the national digital asset reserve.  Hoskinson praised XRP’s technology, noting that the asset has managed to survive for a decade despite unfavorable market cycles. He also commended the community behind XRP, noting that it is one of the strongest in crypto. 

“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,” he stated.