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International Business Times

Business

Marvie Basilan

UNCOVERED: Trump s crypto reserve plan faces pushback as industry executives urge bitcoin only approach | History Defined

Bitcoin Crypto United States Brian Armstrong Cameron Winklevoss Donald Trump Gemini Tyler Winklevoss Coinbase Adam Back

Only Bitcoin is suitable to be included in a U.S. strategic reserve, as per some crypto leaders. (Credit: Kanchanara/Unsplash)

KEY POINTS

Coinbase's Brian Armstrong said a $BTC reserve is the "easiest" option since it has a "clear story" of potentially succeeding gold
Famous cryptographer Adam Back agreed completely with Armstrong's explanations around a Bitcoin reserve
Gemini's Cameron Winklevoss said only Bitcoin "meets the bar for a store of value reserve asset"
Gemini's Tyler Winklevoss said he doesn't see $XRP, $ADA, and $SOL as stores of value like $BTC

The United States is all set to have its own cryptocurrency reserve following President Donald Trump's announcement; however, crypto executives are pushing back against the idea of the reserve having multiple digital assets.

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