- Ripple CEO Brad Garlinghouse criticizes Bitcoin maximalism
- Debate over U.S. Digital Reserve includes Bitcoin and altcoins
- Garlinghouse calls for industry cooperation and diversity
Ripple CEO Brad Garlinghouse just went on Twitter to add his take to the debate of “What should a U.S. Digital Reserve consist of?”
Throughout the week — as the potential for a crypto reserve by the Trump government begins to gain weight — the cryptocurrency community debated what the reserve should be made of. Notably, Bitcoin maximalists like Riot Platforms’ Pierre Rochard have argued in favor of, well, Bitcoin.
Meanwhile, Ripple Labs CTO David Schwarts has joined the debate, arguing that XRP and other altcoins should also be on that list.
The latest addition to the ongoing drama came from Brad Garlinghouse. On Twitter, the Ripple Labs CEO argued for better cooperation in the industry, mentioning that Bitcoin Maximalism is, in his view, the enemy of cryptocurrency progress.
“The crypto industry has a real shot, here and now, to achieve the many goals we have in common,” Garlinghouse wrote. “If we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.”
The executive also said that he owns a handful of other tokens on top of his XRP stash, including Ether and Bitcoin. Later he argued that the Government’s digital asset reserve should represent the entire industry, and not just one token.
Garlinghouse Attacks Maximalists
Garlinghouse ended the post bashing Bitcoin maximalists, celebrating the narrative that the maximalism mantra is losing popularity among crypto enthusiasts.
“I’m very glad to see fewer and fewer folks ascribe to this outdated and misinformed thinking.”
Bitcoin maximalism is the belief that Bitcoin is the only “truly decentralized” cryptocurrency, arguing that Satoshi Nakamoto engineered the currency to ensure that it had no centralized agents.
They argue that Bitcoins’ limited supply, decentralization, and minting process make it the more trustworthy and decentralized digital asset.
In comparison to XRP, they point to accusations like those from Rochard, who claimed that Ripple has the power to tweak XRP Ledger code, unlock escrows, and flood the market with XRP, posing a centralization risk.
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