While Bitcoin has long dominated conversations around cryptocurrency reserves, Peter Schiff‘s recent criticism of including XRP in the U.S. crypto reserve has sparked heated debate across the digital asset community. The notorious Bitcoin skeptic didn’t hold back when questioning the rationale behind adding XRP alongside Bitcoin, Solana, and Cardano in Donald Trump’s announced strategic crypto reserve.
Schiff’s criticism was pointed. He admitted understanding Bitcoin’s inclusion as “digital gold” but called XRP completely unnecessary. What’s the point of XRP? He seemed genuinely confused about its purpose in a national reserve. Gold is his thing anyway—always has been.
The Bitcoin skeptic gets Bitcoin as digital gold but finds XRP puzzling for reserves. Gold remains his true north.
The XRP army wasn’t having it. Defenders quickly rallied, highlighting XRP’s efficiency, technology, and impressive staying power in the volatile crypto market. They pushed back hard on Schiff’s dismissal, arguing XRP’s relevance in global finance makes it a logical reserve asset. Not just a flash in the pan, they insisted. These defenders emphasized how XRP transactions could save the government millions in fees with its minimal transaction costs compared to traditional banking systems.
Then came the plot twist. Charles Hoskinson, Cardano’s founder, unexpectedly backed XRP. He praised it as “great technology” that’s survived multiple market cycles and become a global standard with a dedicated community. Not exactly what anyone expected from a potential competitor.
Trump’s announcement sent the crypto market soaring. Bitcoin jumped to $94,810, and the total market cap hit a staggering $3.03 trillion. XRP specifically saw a significant price surge following the news. Money talks.
The debate has broader implications beyond Schiff’s complaints. It’s raising serious questions about government involvement in cryptocurrency, regulatory frameworks, and how digital assets might function in national reserves. Bitwise CEO Hunter Horsley joined the conversation by expressing his preference for a Bitcoin-only reserve approach.
For Schiff, this is just another chapter in his long history of crypto skepticism. He’s consistently preferred gold, warned about market volatility, and predicted crypto downturns. Aligning with his previous statements, Schiff has warned that such government cryptocurrency acquisitions would lead to significant price increases that could ultimately destabilize the economy. But the market seems to be telling a different story. At least for now.
