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Cryptocurrency News Articles
Microstrategy CEO Michael Saylor Says Only Bitcoin Deserves to Be in the US Crypto Reserve. Not XRP or other altcoins.
Mar 06, 2025 at 09:00 pm
Michael Saylor has been accumulating Bitcoin since 2020. He has not sold a single BTC since the beginning of his purchase.
Microstrategy CEO Michael Saylor is a well-known figure in the cryptocurrency sphere, particularly for his strong preference for Bitcoin over other cryptocurrencies. In a recent post on X, Saylor expressed his disdain for the inclusion of altcoins, such as XRP, in the US crypto reserve. He argued that only BTC deserves a place in the reserve.
This topic has been a subject of discussion since President Trump announced the creation of a US crypto reserve on his Truth Social media platform. Like Saylor, most crypto giants are against the idea of altcoins entering the reserve. They believe that the US should focus on securing Bitcoin as the primary crypto asset for the national reserve.
But why only BTC? Why not other cryptocurrency equivalents like ETH or XRP?
Experts have highlighted several reasons why Bitcoin is the preferred choice for the US crypto reserve over altcoins.
Firstly, Bitcoin is the original and most valuable cryptocurrency, with a market capitalization far exceeding that of other tokens. As the leading cryptocurrency, Bitcoin commands respect and recognition in the financial markets.
Secondly, Bitcoin's technical protocol was designed for universal adoption and use, catering to a global audience. It is known and trusted worldwide, which is crucial for a reserve asset.
Thirdly, Bitcoin is censorship-resistant, operating independently of any government or institution. This aligns with the principles of a decentralized reserve currency.
In contrast, altcoins face issues that hamper their suitability for the reserve. Most altcoins are still in the emerging phase of development, and their long-term sustainability is uncertain.
For instance, XRP is controlled by Ripple Labs, a private company, which makes it a centralized cryptocurrency. This contrasts with Bitcoin's decentralized nature, where no single entity governs or controls the network.
Moreover, the ongoing legal battle between the SEC and Ripple over XRP raises questions about the cryptocurrency's legal status and trustworthiness. While XRP is used for international payments, its centralized and emerging attributes prevent it from being a viable contender for the US crypto reserve.
Therefore, considering its unmatched decentralization, fixed supply, and growing institutional adoption, Bitcoin emerges as the ultimate choice for the US crypto reserve. Unlike XRP and other altcoins, which are controlled by teams or have limited institutional integration, Bitcoin is uncontrolled and trusted by major institutions.
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- tion: Happy Thursday! Anticipation is building ahead of tomorrow's inaugural White House Crypto Summit, with speculation swirling over exactly which industry heavyweights will be in attendance.
- Mar 07, 2025 at 05:40 am
- llowing article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
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