China News Daily TheBitTimes.com

Renowned U.S. economist Peter Schiff, sharply criticized the idea of including XRP in the United States Cryptocurrency Strategic Reserve, questioning its purpose amid broader discussions about digital assets in the American economy. In a March 2, 2025, post on X, Schiff acknowledged the logic behind a Bitcoin (BTC) reserve, likening it to its digital gold narrative, but expressed his disapproval at the inclusion of the token, ‘what’s the rationale for an XRP reserve? Why the hell would we need that?’ 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. But what's the rationale for an XRP reserve? Why the hell would we need that? — Peter Schiff (@PeterSchiff) March 2, 2025 The gold bug added to one post: Picks for you ...

The state of Wyoming is introducing new legislation to allow permanent funds to diversify into Bitcoin, paving the way toward a Bitcoin Reserve. According to WY senator Cynthia Lummis, the proposal will “benefit our state as we lead the nation in financial innovation!” JUST IN: Wyoming introduces legislation to allow permanent funds to diversify into Bitcoin, Senator Cynthia Lummis says. — Watcher.Guru (@WatcherGuru) January 17, 2025 Recently, Senator Lummis and Donald Trump’s incoming Treasury Secretary Scott Bessent met to discuss the United States’ potential strategic Bitcoin reserve. Senator Lummis has been a strong advocate for establishing a Bitcoin reserve in the United States. She and other US senators introduced the bill to the senate last year, saying that Bitcoin as a reserve asset could rescue the US economy. Lummis’ draft for the Bitcoin Act of 2024 proposes the country create a reserve of the leading crypto. Its presence would strengthen the US dollar an...