Key takeout
- Cameron Winklevoss, like important commodities, highlights the country's need to build Bitcoin reserves.
- It is best to avoid moving to stockpile Bitcoin quickly and increasing future costs.
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Cameron Winklevoss, co-founder of Gemini Crypto Exchange, says strategic Bitcoin reserves are essential and not an option, and slowing down Bitcoin stockpiles faces higher costs, reduced geopolitical impacts and a major loss of financial sovereignty.
“Looking at the impact of game theory and national security, strategic Bitcoin reserves are not really an option. It's a must. Just like rare earth minerals, gold, oil, etc., every country needs to stockpile these resources to increase self-sufficiency and reduce enemy leverage.”
Cryptocrats warned that the nation should move quickly to accumulate Bitcoin.
“Supplying stock faster than in front of other countries is much better in terms of the price you pay. This is simple,” he said.
Following Coinbase CEO Brian Armstrong and several other industry leaders, Gemini's co-founder is the latest in voice support for Bitcoin-centric reserves.
Armstrong on Sunday suggested that a national digital asset sanctuary focused solely on Bitcoin will be the best option. Coinbase CEO points out that Bitcoin is the most reliable storage of value and considers it to be the successor to gold.
In response to President Trump's proposal to include altcoins such as Ethereum, XRP, Solana, Cardano in the reserve, Armstrong proposed using a market-cap weighted index of crypto assets in market capitalization, if a variety is needed. However, he argued that focusing solely on Bitcoin is the easiest choice.
According to Tyler Winclevos, the ADA is not qualified as a strategic reserve. He added that the coins are viable to list in Gemini.
I don't think the ADA is suitable for strategic reserves, but I think it's feasible to get listed. @gemini. Let's investigate this. https://t.co/hoeo19sbmg
– Tyler Winclevos (@tyler) March 3, 2025
Longtime Bitcoin critic Peter Schiff questioned the rationale behind the reasons for including XRP and other digital assets in reserves beyond Bitcoin.
“XRP is a great technology, a global standard, survives 10 years through many tough cycles and has one of the most powerful communities. Charles Hoskinson, co-founder of Cardano, defended the inclusion of XRP in US crypto sanctuaries.
White House AI and Crypto Czar's David Sacks said additional details about the crypto sanctuary proposed at the first White House Crypto Summit on March 7th will be revealed.
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