Bitcoin coin standing upright on a pile of golden coins against a dark background

Key Takeaways:

Bitcoin as Reserve Asset: Coinbase and Gemini CEOs argue that Bitcoin is the only cryptocurrency suitable as a US reserve asset, likening it to gold.
Debate on Inclusion: While Brian Armstrong suggests a market cap-weighted index for fairness, Cameron Winklevoss sees Ethereum as a possible addition.
Upcoming Crypto Summit: Trump will host a White House Crypto Summit on March 7 to discuss crypto regulations and the Crypto Strategic Reserve proposal.

Coinbase and Gemini CEOs have expressed strong support for Bitcoin as the sole cryptocurrency suitable for a U.S. Crypto Strategic Reserve, likening it to digital gold.

Gemini co-founder Tyler Winklevoss argued that Bitcoin is the only asset meeting the standard of “hard money” and a proven store of value.

I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve. Only one digital asset in the world right now meets the bar and that digital asset is bitcoin.

Many of these assets are listed for trading on @Gemini and meet our rigorous… pic.twitter.com/q32qlaFDKJ
— Tyler Winklevoss (@tyler) March 3, 2025

His viewpoint was backed by Coinbase CEO Brian Armstrong, who called Bitcoin the simplest and most viable reserve asset.

Excited to learn more. Still forming an opinion on asset allocation, but my current thinking is:

1. Just Bitcoin would probably be the best option – simplest, and clear story as successor to gold
2. If folks wanted more variety, you could do a market cap weighted index of crypto… https://t.co/jv8Gcn8N2S
— Brian Armstrong (@brian_armstrong) March 3, 2025

This stance contrasts with former President Donald Trump’s proposal to establish a Crypto Strategic Reserve, which would include Bitcoin, Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP.

Armstrong suggested that if multiple assets were included, they should be weighted by market capitalization to avoid bias.

Cameron Winklevoss, Tyler’s twin brother and Gemini co-founder, suggested that Ethereum might also qualify, calling it “digital oil” to complement Bitcoin’s role as digital gold.

Meanwhile, Ripple CEO Brad Garlinghouse has advocated for a multi-asset reserve.

Some thoughts on maximalism… let me say this as clearly as I can – the crypto industry has a real shot, here and now, to achieve the many goals we have in common, IF we work together instead of tearing each other down. This is not, and never will be, a zero-sum game.

• I own…
— Brad Garlinghouse (@bgarlinghouse) January 27, 2025

This debate comes ahead of Trump’s first White House Crypto Summit on March 7, where industry leaders will discuss regulations, stablecoins, and the potential structure of a U.S. crypto reserve.

The event will include figures like Bo Hines and Trump’s crypto advisor, David Sacks.