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Crypto Mass Adoption? It's When, Not If – with Brad Garlinghouse, Ripple CEO, at Collision 2022 IBTimes US

KEY POINTS

  • Garlinghouse said crypto communities should unite to fuel more growth in the industry
  • He said maximalism is 'the enemy of crypto progress' and is an 'outdated and misinformed' mindset
  • He also said a basket of digital assets for a US strategic reserve will be more feasible
  • Several influential Bitcoiners weren't pleased with the Ripple CEO's opinions

Ripple CEO Brad Garlinghouse is drawing the line in the ongoing and intensifying feud between Bitcoiners and XRP Army members, calling on the two sides to unite and not tear each other down.

His latest call came as prominent Bitcoiners like Pierre Rochard, the VP of research at Riot Platforms and others accused Ripple, the largest holder of the XRP token, of lobbying hard against a strategic BTC reserve.

Garlinghouse previously said he would prefer a basket of cryptocurrencies if the U.S. government decides to establish a strategic reserve around digital assets.

This time, he specifically commented on "maximalism," a term used in the crypto space to describe an individual or community's extreme beliefs or positions on a certain crypto asset.

Ripple CEO Seeks Collaboration Over Maximalism

Garlinghouse was very clear from the start that he disliked the idea of maximalism around crypto. "Maximalism remains the enemy of crypto progress, and I'm very glad to see fewer and fewer folks ascribe to this outdated and misinformed thinking," he wrote on X Monday.

He revealed that he holds XRP, Bitcoin, Ethereum, and a "handful" of other crypto coins, and he reiterated that he believes the crypto industry, as a whole, can achieve many common goals "if we work together instead of tearing each other down."

A Digital Asset Reserve with a Level-Playing Field for All?

Garlinghouse then cut straight to the point: "if a government digital asset reserve is created – I believe it should be representative of the industry – not just one token (whether it be BTC, XRP, or anything else)," he reiterated.

But his latest comments didn't sit well with Bitcoiners who believe only BTC is the way.

For Rochard, national strategic reserves "shouldn't be a DEI hodgepodge of random crypto ticker symbols shilled by industry lobbyists."

The Bitcoin Therapist, a prominent influencer in the BTC community, argued there is a huge difference between Bitcoin and XRP since Ripple supposedly prints the token while BTC can't be reproduced.

The XRP Army, the community of XRP holders who have stuck with the altcoin despite years of little growth due to Ripple's legal battles with the U.S. Securities and Exchange Commission (SEC), took to the comments to support Garlinghouse's call.

Prominent financial analyst Jacob King said "maximalist thinking will be the downfall of crypto," and communities within the space should instead lift each other up.

XRPcryptowolf, an established figure in the space, said the XRP community seeks everyone's win instead of just one or a few coins.

Bitcoiners Riled by Trump EO?

The word war between Bitcoiners and XRP holders has been going on since late last week, after President Donald Trump signed a crypto-centric executive order that instructed a crypto working group to study the potential of "a national digital asset stockpile."

The EO did not specify BTC or any other digital coin, but it did say that the stash may be derived "from cryptocurrencies" seized lawfully by the U.S. government. So far, the U.S. is known to have seized Bitcoin.

Some Trump allies, such as Sen. Cynthia Lummis, R-Wyo., have been pushing for a Bitcoin reserve since last year. Based on Trump's recent actions, such as the launch of his own official memecoin, TRUMP, and the broad language in the president's EO regarding a U.S. strategic reserve, it can be safe to say he isn't all-in yet regarding a BTC-centric treasury like El Salvador's.

It remains to be seen whether the bitter social media battle between Bitcoiners and XRP holders will come to an end soon, but until the president's working group determines which assets are suitable for a national strategic reserve, the war of words may linger.

Originally published on IBTimes