Brian Armstrong and Tyler Winklevoss believe Bitcoin is the only cryptocurrency that qualifies as a US reserve asset, citing its status as “digital gold.”
Bitcoin as the Ideal Reserve Asset
Following former President Donald Trump’s announcement of a Crypto Strategic Reserve, Gemini co-founder Tyler Winklevoss argued that Bitcoin is the only cryptocurrency that meets the necessary standards.
“Only one digital asset in the world right now meets the bar, and that digital asset is Bitcoin,” Winklevoss stated in a March 3 post on X.
While Trump suggested including Solana, Winklevoss disagreed, saying that despite many cryptocurrencies being valuable, they do not meet the requirements for a national reserve asset. He emphasized that a true reserve asset must function as “hard money” and a proven store of value, similar to gold.
Coinbase CEO Brian Armstrong echoed this sentiment, saying, “Just Bitcoin would probably be the best option,” noting its simplicity and strong track record. However, if diversification is necessary, he proposed a market cap-weighted index of cryptocurrencies to minimize bias.
Bitcoin, Ethereum, or a Mix?
Cameron Winklevoss, co-founder of Gemini, suggested that Ethereum might also qualify alongside Bitcoin. He likened the two to digital versions of America’s traditional reserves—gold (Fort Knox) and oil (Strategic Petroleum Reserve).
For other cryptocurrencies like XRP, Cardano (ADA), and Solana (SOL), Winklevoss recommended stockpiling rather than purchasing them on the open market.
Meanwhile, Samson Mow, CEO of Bitcoin-focused firm Jan3, took a stricter stance, insisting that only proof-of-work assets should be included in the Crypto Strategic Reserve. He argued that proof-of-stake assets like Solana could be manipulated by foreign actors acquiring large amounts of tokens.
“Reserve assets must be based on proof of work to ensure fundamental integrity and assurance of immutability,” Mow stated, adding that Litecoin could be another viable option.
As discussions continue, the debate over what assets should back a US crypto reserve highlights broader questions about digital asset security, stability, and long-term value. While Bitcoin remains the top contender, whether the US government will consider alternative cryptocurrencies remains uncertain.
