Ripple CTO David Schwartz responded to the U.S. president’s decision to approve a strategic cryptocurrency reserve. The reserve will include Bitcoin, Ethereum, ADA, XRP, and SOL. In response, Cardano founder Charles Hoskinson acknowledged XRP’s technology and praised Schwartz for his contributions to its development.
Schwartz Seeks Strongest Arguments for Digital Asset Reserves
Taking to X (formerly Twitter), Schwartz invited the XRP community to share their best arguments supporting digital asset reserves. He clarified that he welcomed arguments for specific assets, all assets, or broader asset classes. “I don’t care,” he stated. “I just want to hear the best arguments for any kind of reserve.”
One follower proposed that establishing a digital asset reserve could help legitimize an industry previously stigmatized by the government. The user described this as a return to neutrality. Schwartz found this viewpoint compelling and responded positively, calling it “a pretty good argument.”
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Gold advocate and vocal Bitcoin critic Peter Schiff expressed confusion over Trump’s announcement. He acknowledged Bitcoin’s inclusion but questioned the rationale for adding XRP. “Why the hell would we need that?” he asked.
Hoskinson Defends XRP and Applauds Schwartz’s Work
Hoskinson pushed back against Schiff’s skepticism, arguing that XRP offers strong technology, global adoption, and resilience through market cycles.
He also praised its dedicated community. Schwartz, surprised by the endorsement, reacted with disbelief: “Am I dreaming?!” Hoskinson then explained that after reviewing the code and protocol for the Glacier Drop, he had developed a greater appreciation for Schwartz’s work.
In response, Schwartz praised Hoskinson’s contributions to Cardano, specifically his focus on privacy.
