Ripple Denies Accusations Of Blocking The Establishment Of National Bitcoin Reserves

JAKARTA - Ripple CEO Brad Garlinghouse has firmly denied allegations that his company is lobbying to thwart plans to form a national Bitcoin reserve. In a statement published on social media, Garlinghouse explained that Ripple is not trying to hinder the formation of Bitcoin strategic reserves, but rather supports the existence of multi-token reserves that include various crypto assets, including Bitcoin.

Pierre Rochard, Vice President of Riot Platforms, previously accused Ripple of lobbying aggressively to thwart Bitcoin's strategic reserve plan. He said Ripple spent millions of dollars to influence policies to prevent the creation of national Bitcoin reserves. Ripple/XRP is working hard to thwart this plan by lobbying politicians," said Rochard.

However, Garlinghouse dismissed this accusation. He emphasized that Ripple's efforts actually increased the chances of establishing a more inclusive crypto strategic reserve. "We support the establishment of strategic reserves that include Bitcoin and other crypto assets," he wrote.

This issue is increasingly complex with the issuance of an executive order by President Donald Trump who formed the Presidential Working Group for the Digital Asset Market. The order aims to draft regulation of digital assets, including stablecoins, and consider the establishment of national digital asset reserves.

According to Arkham data, the US government has reserves of US$21 billion worth of crypto assets (Rp340.2 trillion), with Bitcoin as the dominant asset of 198,000 BTC. Assets confiscated through law enforcement are said to be used as the basis for national strategic reserves.