Bitcoin Is Digital Gold But 'What's The Rationale For An XRP Reserve', Asks Peter Schiff: Cardano Founder Charles Hoskinson Says Trump Made The Right Decision

Aniket Verma

March 02, 2025

Renowned economist Peter Schiff questioned the inclusion of XRP (CRYPTO: XRP) in the cryptocurrency reserve announced by President Donald Trump on Sunday while acknowledging the rationale behind including Bitcoin (CRYPTO: BTC).

What happened: Schiff stated on X that, while he doesn't agree, he understands that Bitcoin’s inclusion arose from a “digital gold” narrative. “I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it,” he said.

"But what’s the rationale for an XRP reserve? Why the hell would we need that?" Schiff slammed XRP's inclusion.

In response, Charles Hoskinson, co-founder of Cardano (CRYPTO: ADA) -- the other altcoin included in the strategic reserve -- stated that XRP is a “great” technology and a global standard, having one of the strongest communities.

"I think the president made the right decision," Hoskinson stated.

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
— Charles Hoskinson (@IOHK_Charles) March 2, 2025

See Also: SEC Closes Investigation Against Crypto Exchange Gemini, Says Cameron Winklevoss: ‘Another Milestone To The End Of The War On Crypto’

Schiff, one of the staunchest critics of the world's leading cryptocurrency, argued that Bitcoin was on the brink of a "sharp selloff" and that Trump was brought in to rescue the cryptocurrency with a "bailout post."

Someone got Trump to do a follow up post to include Bitcoin and Ether in the Strategic Reserve. Why leave out $Trump coin? This is all BS. Bitcoin was on the verge of another sharp selloff. So Trump's was brought in to rescue crypto with a bailout post.
— Peter Schiff (@PeterSchiff) March 2, 2025

Why It Matters: Schiff's remarks followed Trump's big announcement that Bitcoin would be at the "heart" of a U.S. strategic cryptocurrency reserve, along with other coins such as Ethereum (CRYPTO: ETH), XRP (CRYPTO: XRP), Cardano (CRYPTO: ADA), and Solana (CRYPTO: SOL).

Interestingly, just last week, Schiff suggested in a cheeky post that only a strategic Bitcoin reserve announced by Trump could halt the market downturn.

He also said that Bitcoin’s surge past $100,000 was a "repayment" from Trump to his cryptocurrency-supporting base.

Price Action: At the time of writing, Bitcoin was exchanging hands at $93,045.77, up 7.57% in the last 24 hours, according to data from Benzinga Pro.

Read Next:

Bitcoin Spin-Off Litecoin, ‘Ethereum Killer’ Avalanche Weather Crypto Meltdown, Here’s Why LTC, AVAX Are Spiking

Photo courtesy: Shutterstock

Recommended

One Coin to Rule Them All... - Ad

World Economic Forum: "Arguably the Most Exciting Human Discovery Since Fire" - Ad

New Study: 50 Stocks Will Crash While 7 MAGA Stocks Will Soar - Ad

Popular

What's Going On With VeriSign Shares Friday?

VeriSign reported better-than-expected first-quarter earnings on Thursday after the market closed.

Trump keeps contradicting himself on tariffs, making a fragile world economy nervous

WASHINGTON (AP) — President Donald Trump can't stop contradicting himself on .

Elon Musk Drops Stunning Bombshell?

Elon Musk Drops Stunning Bombshell? - Ad

Behind closed doors, Musk revealed a game-changing breakthrough technology that could shake the tech world & crush major companies. Why is no one talking about it? Luckily, we had a man on the inside - watch now to see the details & how to profit!

Social Security Payments For Group 3 Retirees To Be Sent On April 16: What You Need To Know About Your Benefits

Social Security payments for Group 3 retirees will be sent on April 16, based on retirement date and birthdate.

IRS whistleblower on Hunter Biden is out as acting commissioner just days after getting the job

WASHINGTON (AP) — Just days after to acting IRS commissioner, the whistleblower who testified publicly about investigations into Hunter Biden’s taxes is out of the job, according to three people familiar with the decision.

Putting Your Name on This List Could Hand You $1,270 on Friday

Putting Your Name on This List Could Hand You $1,270 on Friday - Ad

URGENT: On Tuesday, a simple set of instructions will be sent out to an elite group of investors. The folks in this group will have the opportunity to place a 10-minute trade that could double their money by Friday. Consider this your invitation to join them. The next trade is just days away.

US Treasury secretary says trade war with China is not 'sustainable'

WASHINGTON (AP) — U.S. Treasury Secretary said in a Tuesday speech that the ongoing against China is unsustainable and expects a "de-escalation" in the trade war between the world's two largest economies.

Betting Odds For Pope Francis Replacement Show Two Favorites, Plus This Global Event Has MLB Bettors Backing Nick Castellanos To Hit Home Runs

Pope Francis has died at the age of 88 leaving a vacancy for the position of the global head of the Catholic Church.

No.1 Opportunity for 2025 [Take Action Now!]

No.1 Opportunity for 2025 [Take Action Now!] - Ad

Starlink's potential IPO Could Be the Biggest in History--Silicon Valley insider James Altucher has uncovered a way to profit BEFORE the IPO--with as little as $50. Musk's $180B giant is set to launch--will you miss out? Claim your spot before it's too late.

Rep. Marjorie Taylor Greene bought stocks hit hard by Trump tariffs during the market meltdown

NEW YORK (AP) — Give Marjorie Taylor Greene credit where it’s due: As stocks tanked on tariff fears, she showed her faith in the president not just with words but dollar bills.

VinFast Auto Maintains EV Delivery Outlook Amid Macro Uncertainty Despite Q4 Margin Drag

VinFast posts wider-than-expected Q4 loss, revenue miss, and steep margin drop but maintains 2025 delivery growth target.

Brace Yourself for Jeff Bezos' "Amazon Helios"

Brace Yourself for Jeff Bezos' "Amazon Helios" - Ad

Amazon delivers 20 million packages a day... powers some of the most popular websites... delivers medication to half of the U.S. population... and even produces award-winning films and TV shows. But a Wall Street legend -- twice featured on 60 Minutes -- predicts that "Amazon Helios" will be bigger than all of those... COMBINED.

Trump nominee withdraws after her criticism of the Jan. 6 Capitol attack surfaces

BILLINGS, Mont. (AP) — President Donald Trump's nominee to oversee an agency that manages has withdrawn her nomination following revelations that she criticized the Republican president in 2021 for inciting the Jan. 6 attack on the U.S. Capitol.

4 dangerous assumptions that could hurt your retirement

Here are four dangerous assumptions that could hurt your retirement.

The Most Important "AI Stock" You've Never Heard Of

The Most Important "AI Stock" You've Never Heard Of - Ad

The AI revolution is moving faster than anyone expected. But what no one is talking about is the one company AI simply can't exist without. It may be the single most important AI investment, yet most people don't even know its name. For now. The moment Wall Street catches on, this $20 stock could explode.

Marjorie Taylor Greene Made Large Stock Purchases Ahead Of Trump's 90-Day Tariff Pause: Hakeem Jeffries Calls It 'Problematic'

Rep. Marjorie Taylor Greene (R-Ga.) disclosed her significant stock purchases made just before and on the day of former President Donald Trump's announcement to pause global tariffs. This announcement had a substantial impact on the stock market.

Prince Harry appeals the loss of his UK security detail

LONDON (AP) — wants his British security detail restored and is taking his case to an appeals court.

Trump to Unlock 15-Figure Fortune for America (May 3rd)?

Trump to Unlock 15-Figure Fortune for America (May 3rd)? - Ad

This map looks ordinary--but according to insider Jim Rickards, it reveals a hidden government asset so massive . Trump may soon unlock it--learn how to position yourself before it's too late!

Elon Musk's Tesla Reportedly Manipulating Odometers To Dodge Warranty Repairs

Tesla is facing lawsuit over odometer manipulation. Plaintiff claims premature warranty expiration, seeking damages for California Tesla drivers.

'There Is Complete Meltdown in the Building': Defense Secretary Loses Four Key Staffers in a Single Day

Defense Secretary Pete Hegseth lost four key staffers in one day, causing a significant upheaval within the Pentagon.

Maverick Trader Reveals 97% Accurate System

Maverick Trader Reveals 97% Accurate System - Ad

This man's simple strategy makes money in any market...With a 97% accuracy at hitting winners over the past 8 years!

Meet The New Income Machines: Simplify Debuts SBAR And XV

Simplify Asset Management launches two innovative ETFs designed to provide structured, high-yielding income with well-defined downside risk in today's challenging investing environment.

Maryland Senator Grabs National Spotlight With El Salvador Meeting With Deportee

Sen. Chris Van Hollen (D-Md.), a longtime but mostly low-profile legislator, has surged into the national spotlight following a trip to El Salvador to meet with Kilmar Abrego Garcia.

Elon's Greatest Invention... Hidden in South Memphis?

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Tech legend Jeff Brown recently traveled to the industrial zone of South Memphis to investigate what he believes will be Elon's greatest invention ever... Yes, even bigger than Tesla or SpaceX.

$74 Billion Wiped Out Since Tariff Declaration - See How Much The Billionaires Lost

In a significant market downturn since President Trump announced new tariffs worldwide, the world's wealthiest individuals have seen their fortunes shrink by $74 billion.

US egg giant Cal-Maine says government is investigating price increases

Shares of Cal-Maine Foods, the largest U.S. egg producer, fell in after-hours trading Tuesday after the company acknowledged it is being investigated by the antitrust division of the U.S. Department of Justice.

Are You Missing the American "Wealth Window"?

Are You Missing the American "Wealth Window"? - Ad

Is President Trump's Executive Order 14179 a secret way to restore wealth for good citizens? If you've suffered financial hardship, Trump may have solved everything. In fact, I'm predicting Trump's Order will open a brief "wealth window" that could turn $10K into $1 MILLION over the next few years.

DHL Says It's Suspending Global Shipments To US Valued More Than $800 As Customs Updates Cause Multi-Day Transit Delays (CORRECTED)

DHL has temporarily suspended U.S.-bound consumer shipments over $800 due to new customs rules causing major delays.

Trump meets with the House GOP as his 'big' bill of tax breaks and spending cuts teeters

WASHINGTON (AP) — found himself in a familiar jam on Tuesday: Conservative Republican holdouts are stalling action on "big” bill of tax breaks and spending reductions, refusing to accept approved over the weekend because it doesn't cut enough.

Defi Coin Triggers All "Buy" Signals and Could Break Out Soon

Defi Coin Triggers All "Buy" Signals and Could Break Out Soon - Ad

Some are calling this the most promising DeFi project since Ethereum itself. Here's the #1 DeFi Coin Set to Soar. While Bitcoin grabs headlines, this lesser known DeFi coin is quietly gearing up for a monster rally. Experts say now is the time to buy before it reaches escape velocity.

The UK says at an energy summit that green power will boost security, as the US differs

LONDON (AP) — Britain announced a major investment in wind power Thursday as it hosted an international summit on energy security — with Europe and the United States at odds over whether to cut their reliance on fossil fuels.

Mark Cuban Gets Real About What It Takes To Get Rich: 'Even When I Was Dead Broke Sleeping on the Floor, I Was Having Fun'

Billionaire and Dallas Mavericks owner Mark Cuban once shed light on the common misconceptions about super-rich individuals and the impact of wealth on personal relationships.

Biggest Dividend Payout in U.S. History: $1 Trillion up for Grabs!

Biggest Dividend Payout in U.S. History: $1 Trillion up for Grabs! - Ad

Trump just launched a $1 trillion National Investment Fund to replace income taxes and send direct payouts to Americans. You could claim up to $21,307--before the first public checks go out. This is historic. Act now to be first in line.

Paige Bueckers talks about her investment stake in Unrivaled league on 'Good Morning America'

NEW YORK (AP) — Paige Bueckers is ready to start not just her WNBA career with the Dallas Wings but her career as a businesswoman as well.

Hollywood lands a much-needed box office hit with ‘A Minecraft Movie’

Hollywood needed to be a hit, and it delivered in its opening weekend, significantly narrowing this year's .

Nvidia Is About to Shock the World: July 23rd

Nvidia Is About to Shock the World: July 23rd - Ad

Jeff Brown, the tech legend who picked shares of Nvidia in 2016 before they jumped by more than 22,000%, is warning everyone to... Mark this date on your calendar: July 23rd! That's when Nvidia could help send shares of this Elon Musk supplier skyrocketing higher.

Japan reports a $63 billion trade surplus with the US as it talks with Trump on tariffs

TOKYO (AP) — Japan recorded a trade deficit in its March-April fiscal year but racked up a surplus with the U.S., the Finance Ministry reported Thursday.

Stocks Edge Up On Strong Bank Earnings, Netflix Soars, Dollar Rebounds: What's Driving Markets Tuesday?

Wall Street gained ground by midday trading on Tuesday, as investor concerns over the economic impact of trade tensions continued to ease following recent signs that the Trump administration was taking a more conciliatory approach.

One Coin to Rule Them All...

One Coin to Rule Them All... - Ad

Hardly any investors are talking about this coin but I believe that's about to change with some potentially huge news! Get in on the ground floor while it's rock bottom with this new how-to guide, just $3.

Mark Cuban Once Revealed A Childhood Habit That His Automobile Upholsterer Father Was Happy About: 'I Don't Understand What You're Doing, But I'm Glad You're Doing It'

Mark Cuban's entrepreneurial journey began with his unconventional habit of reading about business figures like Ted Turner instead of watching movies, a passion that continues to fuel his success as he dives into artificial intelligence.

Trending Now