Key Takeaways
- Cameron Winklevoss emphasizes the need for countries to build Bitcoin reserves similar to critical commodities.
- Moving quickly to stockpile Bitcoin is advised to avoid higher costs in the future.
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Gemini crypto exchange co-founder Cameron Winklevoss says a strategic Bitcoin reserve is a must, not a choice, and that nations delaying Bitcoin stockpiling will face higher costs, diminished geopolitical influence, and a major loss of financial sovereignty.
“A Strategic Bitcoin Reserve is really not a choice if you look at the game theory and national security ramifications. It’s a must. Like rare earth minerals, gold, oil, etc., any country needs to stockpile these resources to increase self-sufficiency and reduce leverage of its adversaries,” Winklevoss wrote on X on Monday.
The crypto entrepreneur warned that nations should move quickly to accumulate Bitcoin.
“Stockpiling sooner rather than later and before other countries is much better in terms of the price you pay. This is simple stuff,” he stated.
Following Coinbase CEO Brian Armstrong and several other industry leaders, Gemini’s co-founder is the latest figure to voice support for a Bitcoin-focused reserve.
Armstrong on Sunday suggested that a national digital asset reserve focused solely on Bitcoin would be the best option. The CEO of Coinbase pointed out that Bitcoin is the most reliable store of value, viewing it as a successor to gold.
In response to President Trump’s proposal to include altcoins like Ethereum, XRP, Solana, and Cardano in the reserve, Armstrong proposed using a market capitalization-weighted index of crypto assets if variety is desired. Yet, he asserted that focusing solely on Bitcoin would be the most straightforward choice.
According to Tyler Winklevoss, ADA does not qualify as a strategic reserve. He added that the coin is viable for listing on Gemini.
While I don’t think ADA is suitable for a Strategic Reserve, I do think it is viable for listing on @Gemini. We will look into this. https://t.co/HOEO19SbMg
— Tyler Winklevoss (@tyler) March 3, 2025
Peter Schiff, a long-time Bitcoin critic, questioned the rationale behind including XRP and other digital assets in the reserve beyond Bitcoin.
“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, co-founder of Cardano, defended the inclusion of XRP in the US crypto reserve.
David Sacks, the White House AI and crypto czar, said additional details about the proposed crypto reserve will be revealed at the first White House Crypto Summit on March 7.
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