Brian Armstrong and Tyler Winklevoss have voiced their support for Bitcoin as the ideal cryptocurrency for inclusion in the U.S. reserve asset pool, emphasizing its role as the “successor to gold.”
The CEOs of leading cryptocurrency exchanges Coinbase and Gemini assert that Bitcoin is the only digital asset that meets the stringent criteria for serving as a U.S. reserve asset.
Tyler Winklevoss, co-founder of Gemini, reinforced this stance in a March 3 post on X, following former U.S. President Donald Trump’s announcement of plans to establish a Crypto Strategic Reserve. Trump revealed that the reserve would include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP.
While acknowledging the legitimacy of these assets for trading, Winklevoss argued that only Bitcoin meets the standard for a true reserve asset. “Many of these assets are listed for trading on Gemini and comply with our rigorous listing policy. However, when it comes to a Strategic Reserve, an asset must be a form of hard money with a proven track record as a store of value—just like gold,” he stated.
Bitcoin as the Primary Reserve Asset
Coinbase CEO Brian Armstrong echoed Winklevoss’s sentiment, affirming that Bitcoin alone would be the best option for such a reserve due to its simplicity and status as digital gold.
However, Armstrong suggested that if a diversified reserve is preferred, the U.S. government could consider a market cap-weighted index of cryptocurrencies to eliminate bias in asset selection.
Gemini’s Cameron Winklevoss also supported Bitcoin’s dominance in reserve asset discussions, though he proposed Ethereum as a possible second choice. “Maybe Ethereum. Digital gold and digital oil—similar to America’s physical reserves of gold (Fort Knox, NY Fed) and oil (Strategic Petroleum Reserve),” he noted.
Winklevoss further suggested that XRP, ADA, and SOL might be worth holding in the reserve but should not be actively acquired on the open market.
Proof-of-Work vs. Proof-of-Stake Debate
Samson Mow, CEO of Bitcoin technology firm Jan3, weighed in, arguing that only Proof-of-Work (PoW) assets should be considered for the reserve. He specifically mentioned Bitcoin and Litecoin (LTC) as viable options.
“Reserve assets must be based on Proof-of-Work to ensure fundamental integrity and immutability. Proof-of-Stake (PoS) assets are vulnerable to foreign influence, as control can be gained simply by acquiring large amounts of the asset,” Mow explained.
Cardano and Ripple Defend Their Inclusion
Despite opposition from Bitcoin maximalists, executives from Cardano and Ripple supported Trump’s decision to include their tokens in the Crypto Strategic Reserve.
Cardano founder Charles Hoskinson defended XRP’s inclusion, pushing back against criticism from prominent gold advocate and crypto skeptic Peter Schiff.
“XRP is a great technology, a global standard that has survived for over a decade through multiple market cycles, and it has one of the strongest communities. I think the president made the right decision,” Hoskinson asserted.
Similarly, Ripple CEO Brad Garlinghouse has long advocated for a multi-token U.S. reserve strategy, aligning with Trump’s proposal from March 2.
Upcoming White House Crypto Summit
The formation of the Crypto Strategic Reserve follows weeks of deliberation by Trump’s newly established Working Group on Digital Assets.
As part of this initiative, Trump will host the first-ever White House Crypto Summit on March 7. The event will bring together industry leaders, including Bo Hines from the Working Group and David Sacks, Trump’s AI and crypto policy advisor. Discussions will focus on regulatory policies, stablecoin oversight, and the future of digital asset adoption.
With the U.S. government taking a more active role in shaping its crypto strategy, the debate over which assets should be included in the national reserve continues to gain momentum.
