The ongoing dispute between the XRP and Bitcoin communities has intensified in recent weeks, primarily due to differing opinions on the potential structure of a U.S. strategic crypto reserve. The debate gained traction after legal analyst Hailey Lennon, a contributor to Forbes Crypto, strongly advocated for a Bitcoin-exclusive reserve . This stance has sparked a backlash from XRP supporters, including Ripple executives, who argue that a diversified approach is necessary.
Forbes Legal Analyst Supports Bitcoin-Only Reserve
Lennon has consistently maintained that a national crypto reserve should exclude digital assets backed by centralized entities. Although she did not explicitly reference Ripple or its native token, the community members took her comments as a direct attack. Responding to the criticism, Lennon stated , “The fact that I haven’t mentioned XRP and you all keep assuming it’s about XRP is telling.”
In a follow-up post, Lennon clarified her skepticism toward including XRP in the U.S. reserve, emphasizing that individual investors are free to hold the token. However, she argued that decisions about a national reserve should be based on broader economic considerations rather than personal investment interests. According to her, the discussion is not about boosting the price of specific assets but ensuring the stability and security of the reserve.
Her statements only fueled further criticism from the token’s supporters, who accused her of bias. In response, Lennon summed up the negative comments she had received, referring to them as attacks from angry XRP people.
Key Arguments in the Debate
Lennon also addressed broader claims made by the community, including allegations that Bitcoin supporters are uninformed or envious of XRP’s success. She simply dismissed the claims.
Another point of contention was the perceived differences in decentralization between the two assets. Some advocates argued that Ripple is a well-regulated U.S. company, while Bitcoin’s anonymous founder, Satoshi Nakamoto , presents a security concern. Lennon countered by suggesting that holders of the asset place trust in a centralized entity that controls a significant portion of the token supply, which could potentially lead to market manipulation.
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Additionally, Lennon refuted claims that Ripple has always supported Bitcoin, citing past lobbying efforts that allegedly worked against Bitcoin’s interests. However, Ripple has maintained that its advocacy was aimed at broader crypto regulation, not opposition to Bitcoin.
Ripple’s Former Director Reacts
Amid the escalating debate, Matt Hamilton , a former Ripple developer and current Bitcoin holder, weighed in on the controversy. He expressed disappointment that influential Bitcoin supporters were using their platforms to fuel division rather than focusing on the growth of the crypto industry as a whole.
“Bitcoin maximalism isn’t the answer,” Hamilton remarked, emphasizing the need for collaboration rather than infighting within the crypto space.
While the debate continues, whether a U.S. crypto reserve should include multiple assets or remain Bitcoin-exclusive remains unresolved. Advocates for a diversified reserve argue that including a range of cryptocurrencies could provide greater stability, mitigate risks associated with Bitcoin’s volatility, and reflect the nature of the digital asset market. On the other hand, proponents of a Bitcoin-only reserve emphasize its dominance, security, and decentralization, asserting that it is the most reliable store of value.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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