Economist and gold advocate Peter Schiff has questioned why the U.S. needs an XRP reserve. His statement followed President Donald Trump’s announcement of a strategic crypto reserve that includes XRP alongside bitcoin (BTC), ether (ETH), solana (SOL), and cardano (ADA).
Schiff expressed skepticism about XRP’s inclusion on social media platform X on March 2. While he acknowledged the reasoning behind holding a BTC reserve—comparing it to the U.S. gold reserve—he was puzzled by the decision to include XRP. The gold advocate wrote:
I get the rationale for a bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let’s create a bitcoin reserve too. But what’s the rationale for an XRP reserve? Why the hell would we need that?
His post quickly attracted responses from the XRP community, often referred to as the “XRP Army.” Supporters defended its inclusion, citing Trump’s pledge to make the United States a global leader in cryptocurrency.
Among those responding was Charles Hoskinson, founder of Cardano and co-founder of Ethereum, who voiced his support. “Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision,” Hoskinson stated.
While many backed XRP’s inclusion, some shared Schiff’s skepticism. Crypto influencer Dan Held, for instance, expressed surprise at agreeing with Schiff, writing: “Lmao what timeline is this? I actually agree with Peter Schiff?”
Schiff remained skeptical, questioning why the U.S. government specifically needed XRP in its strategic reserve despite multiple explanations. “Yes, but why does the U.S. government need a strategic reserve of XRP?” he pressed, adding:
There are a lot of valuable assets that the U.S. government doesn’t hold in reserve. What’s so special about XRP?
Ripple CEO Brad Garlinghouse also weighed in on Trump’s announcement, supporting the initiative but not directly responding to Schiff. He emphasized that cooperation within the crypto industry was necessary for progress and praised the recognition of a multichain ecosystem. Garlinghouse reiterated his stance that the crypto sector can surpass its goals through unity. He also mentioned his upcoming visit to Washington to continue advocating for industry interests.
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