Tyler Winklevoss: Only Bitcoin Is Fit for a Strategic Reserve
Tyler Winklevoss, co-founder of the cryptocurrency exchange Gemini, recently weighed in on the US strategic crypto reserve, and his stance is clear: Bitcoin is the only digital asset that belongs there.
In an X post, Tyler laid out his reasoning: “Among digital assets, only Bitcoin meets the bar for a Strategic Reserve. It’s hard money and a proven store of value, just like gold.” He was quick to add, though, that he’s not against other cryptocurrencies like XRP, SOL, or ADA – the ones Trump mentioned as potential reserve assets.
“Many of these assets are listed for trading on @Gemini and meet our rigorous listing policy criteria,” Tyler continued. “But with respect to a Strategic Reserve it is another standard.”
Tyler isn’t alone in this belief. Coinbase CEO Brian Armstrong echoed Tyler Winklevoss Bitcoin reserve thoughts in his own X post, suggesting that Bitcoin is the best option for the reserve.
Is a Strategic Bitcoin Reserve Needed? Cameron Winklevoss Says That’s Out of Question
Cameron Winklevoss, meanwhile, addressed the question if the Bitcoin reserve is even needed. He says it’s a must and not a choice if you look at the game theory and national security ramifications.
Cameron compared Bitcoin with rare earth minerals, saying any country needs to stockpile resources to limit the power of its adversaries. He added:
Stockpiling sooner rather than later and before other countries is much better in terms of the price you pay. This is simple stuff.
According to recent updates, the Presidential Working Group is currently at the stage of evaluating the multi-coin strategic reserve option. It’s not clear yet how the reserve will be built and whether Congress would need to approve it or not.
The crypto market reacted to Trump’s crypto reserve announcement with soaring prices. However, a day later, it saw a major decline.
On March 7, Trump is going to host the first Crypto Roundtable at the White House to discuss the path of the crypto industry in the US. The question of crypto reserve will probably be a part of conversations.
It’s not clear who the attendees of the first summit are, but the Winklevoss brothers are surely among the most expected participants. They have been key figures in crypto ever since they founded Gemini in 2014.
As the co-founders of one of the largest crypto exchanges in the U.S., they've played a big role in driving the industry forward. They’ve been strong advocates for Bitcoin and other digital assets, constantly pushing for mainstream adoption and regulation.
The brothers donated $1 million in Bitcoin during Trump’s presidential campaign, saying they would vote for him.
Related: Tyler Winklevoss Criticizes Biden-Harris Administration
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