Jack Mallers, the founder and CEO of Bitcoin financial services platform Strike, has reignited the debate over Bitcoin’s role in U.S. monetary policy. In a recent discussion with journalist Natalie Brunell, Mallers emphasized the growing political push for a Bitcoin Strategic Reserve, which he believes could be one of the most significant economic announcements in U.S. history—comparable to Nixon’s 1971 decision to abandon the gold standard.
However, Mallers also raised concerns about Ripple’s influence in the crypto policy landscape, arguing that the company prioritizes corporate interests over true decentralization.
Mallers Criticizes Ripple’s Approach
According to Mallers, Ripple’s handling of XRP is fundamentally different from Bitcoin’s ethos. Unlike Bitcoin advocates like Michael Saylor, who hold significant amounts of BTC as a long-term investment, Mallers claims Ripple does not exhibit the same belief in its own product. He pointed out that Ripple initially allocated 100 billion XRP tokens to itself and has consistently sold portions to the public, rather than retaining a substantial stake.
Mallers framed this as a familiar pattern in American economic history, where corporations claim to serve the public interest but ultimately act in their own favor. He warned that if Ripple continues influencing policy discussions, it could undermine Bitcoin’s role as a decentralized, public utility and shift focus toward corporate-driven interests.
“Bitcoin’s a public utility for us, and there’s corporate lobbying that’s trying to take that away and prioritize their interest. Ripple, in my opinion, crossed the line.” — Jack Mallers
Brad Garlinghouse Responds
Ripple CEO Brad Garlinghouse took a different stance, pushing back against the notion that the industry should revolve around a single asset like Bitcoin. He argued that crypto’s success depends on collaboration, not rivalry, and that a government-backed digital asset reserve should be inclusive rather than focusing on just one token.
Garlinghouse dismissed maximalist views, saying that restricting government reserves to Bitcoin alone ignores the diversity of the crypto industry. He concluded by emphasizing that competition between crypto assets hinders adoption and that a broader approach is necessary to ensure long-term progress.
What’s Next for Bitcoin and U.S. Policy?
With the political discussion around a Bitcoin Strategic Reserve gaining traction, the debate between decentralization vs. corporate influence is set to continue. As regulatory bodies and lawmakers explore crypto’s role in national economic policy, the outcome could shape the future of digital assets in the United States for years to come.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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