Cardano Creator Calls XRP the Global Standard. Here’s why

The U.S. government’s decision to establish a strategic cryptocurrency reserve has drawn both support and skepticism, with particular attention on the inclusion of XRP.

On March 2, President Donald Trump announced that the reserve would hold Bitcoin, Ethereum, Solana, Cardano, and XRP. This decision has sparked debate among economists, industry leaders, and cryptocurrency advocates regarding the rationale behind selecting these particular assets.

Peter Schiff’s Criticism 

Peter Schiff, a well-known economist, gold advocate, and vocal Bitcoin critic, questioned the reasoning behind adding XRP to the reserve. While he disagrees with the idea of a Bitcoin reserve, he understands the justification for it, comparing it to the United States’ existing gold reserves.

He stated , “I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let’s create a Bitcoin reserve too.”

However, Schiff expressed skepticism about the asset’s inclusion, asking, “But what’s the rationale for an XRP reserve? Why the hell would we need that?” His comments reflect a broader sentiment among traditional economists who question the necessity of holding the token as a strategic asset.

Many outside the cryptocurrency industry view Bitcoin as the dominant digital asset, with store-of-value properties that are more closely align with gold, while XRP’s utility-based role remains less understood by those in traditional finance.

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Charles Hoskinson’s Defense 

Schiff’s remarks prompted a direct response from Charles Hoskinson, the founder of Cardano, who defended the decision to include Ripple’s native token in the reserve.

Hoskinson highlighted XRP’s technological capabilities, longevity, and strong community support. He wrote, “Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision.”

Because XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision

— Charles Hoskinson (@IOHK_Charles) March 2, 2025

Hoskinson’s response was unexpected to many in the cryptocurrency industry, given past tensions between Cardano and XRP communities. His remarks, however, reinforced the argument that XRP has played a significant role in the digital asset ecosystem and has demonstrated resilience over the years.

Reactions from the Community

The response from the community was just as notable. David Schwartz, the Chief Technology Officer of Ripple and one of the key architects behind the XRP Ledger, reacted with surprise to Hoskinson’s defense of the asset. In a post on X, he responded to Hoskinson’s tweet, “Am I dreaming?!”

Schwartz’s reaction highlighted the unexpected nature of Hoskinson’s support, given prior disagreements between figures associated with Cardano and XRP. Some saw the moment as a possible shift in how major cryptocurrency leaders view one another’s projects, especially in the context of government recognition and adoption.

Schiff’s criticism and Hoskinson’s defense illustrate the ongoing discussions within the financial and cryptocurrency sectors. As digital assets continue to gain institutional and governmental recognition, the debate over which cryptocurrencies hold strategic importance will likely persist.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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