Gold Just Hit Another Record. This Junior Could Be Next.

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

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.

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."

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

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