Coinbase’s Brian Armstrong Thinks Having A Bitcoin-Only Crypto Reserve ‘Best Option’ While Arthur Hayes Says Trump’s Announcement Insignificant Until Congressional Approval

President Donald Trump took the cryptocurrency world by surprise Sunday, announcing a strategic reserve comprising of top coins such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

As the market came to terms with the significant development, influential industry figures proposed suggestions and assessed the chances of its implementation.

What happened: Brian Armstrong, CEO of cryptocurrency exchange Coinbase, believed having just Bitcoin in the reserve would be the “best option,” calling the asset a successor to gold. 

Alternatively, Armstrong proposed that to maintain variety, a market capitalization-weighted mix of cryptocurrency assets could be used to keep the reserve “unbiased.”

Full story available on Benzinga.com