Is Ripple lobbying against a strategic bitcoin reserve? After US President Donald Trump signed an Executive Order (EO) establishing a working group focused on cryptocurrencies on January 23, heated debate erupted in x. The order aims to regulate digital assets and explore the creation of a so-called “strategic reserve digital asset.” Although the EO does not specifically identify bitcoin, its language underscores a broader mandate to strengthen American leadership in digital financial technology, while explicitly prohibiting the development or deployment of central bank digital currencies (CBDCs).
Is Ripple lobbying against a bitcoin reserve?
Shortly before signing the executive order, Pierre Rochard, vice president of research at Riot Platforms (NASDAQ: RIOT) and a prominent early adopter, <a target="_blank" href="https://x.com/BitcoinPierre/status/1882472124092416355″ target=”_blank” rel=”noopener nofollow”>aware A statement via x on January 23, calling Ripple/XRP “the biggest obstacle” to the Strategic bitcoin Reserve (SBR).
He stated: “The biggest obstacle to the strategic reserve of bitcoin is not the Fed, the Treasury, the Banks or Elizabeth Warren. It's Ripple/XRP. They are aggressively lobbying against the SBR by throwing around $million at politicians, desperately trying to derail it. They did the same to attack bitcoin Mining under the Biden administration. Obviously, they want to protect their marketing narratives and push the CBDCs built on their platform.”
The Rochard Center alleges that Ripple is aiming to undermine a btc-only strategic reserve in favor of what he alleges is a broader “crypto reserve” that includes XRP and possibly other tokens. He also revived long-standing criticism of the company's lobbying activities, alluding to the efforts of co-founder Chris Larsen, who has provided financial support to environmental campaigns criticizing btc proof-of-work mining.
Responding to Rochard's comments, Brad Garlinghouse, CEO of Ripple, <a target="_blank" href="https://x.com/bgarlinghouse/status/1882513710616621442″ target=”_blank” rel=”noopener nofollow”>countered Via
The exchange escalated when Rochard questioned Garlinghouse's personal investment in XRP, suggesting a potential conflict of interest in his advocacy efforts. “Brad, have you ever bought XRP? Or is it just sold? Yes/No, I don't need to know how much but curious since you are asking the government to buy XRP.”
While Garlinghouse was reassured by this, Rochard doubled down on his accusation that Ripple is firmly against a btc-centric reserve: “For all those who doubted that Ripple/XRP is pushing against the bitcoin strategic reserve, here is the proof. They want to sabotage the SBR with 'crypto' distractions. There are an infinite number of altcoins that are “made in the USA”, anyone can do it, nothing strategic about it.”
Rochard also shared a video clip in which Garlinghouse supports a broad-based crypto reserve rather than a strictly btc-only approach: 'Right from the horse's mouth: Ripple/XRP opposes a strategic bitcoin reserve, they want one' Diversified crypto Reserve' instead. This is what they're pushing behind closed doors in DC, and waving $millions at politicians to make it happen.”
Additionally, Rochard supported his claims by referencing a CNBC article titled “Ripple's anti-bitcoin campaign to promote CBDC,” which details Ripple co-founder Chris Larsen's financial backing of the Greenpeace co-founder's “Change the Code” campaign. USA. This initiative, launched in March 2022 with a $5 million contribution from Larsen, aims to modify btc's proof-of-work protocol under the guise of reducing its environmental impact.
Ryan Selkis, founder of cryptocurrency research firm Messari, <a target="_blank" href="https://x.com/twobitidiot/status/1882537933930217836″ target=”_blank” rel=”noopener nofollow”>aligned With Rochard’s perspective, stating that Ripple’s lobbying efforts to include XRP in a strategic crypto reserve are misguided: “Brad’s response is insightful. Ripple is likely to push to make XRP part of the 'crypto Strategic Reserve' when in reality only bitcoin (as an adjacent energy product) makes sense in any type of reserve like this. I have warned the Trump admin about Ripple for months. Toxic.”
At press time, btc was trading at $105,012.
Featured image created with Dall.E, Grabe from TradingView.com
