Bitcoin Magazine criticized a document submitted to the SEC’s task force that argued XRP should be used as the United States’ strategic financial asset, saying much of the argument is incorrect or illogical.
The piece notes that the proposal starts from Maximilian Stadinger’s assertion that Nostro accounts held by U.S. banks for cross-border payments tie up about $5 trillion, and that if certain conditions are met, about $1.5 trillion—30%—could be unlocked.
The author builds on this premise to argue that if the SEC classifies XRP as a payments network, the DOJ would permit banks to use XRP, and the Fed would mandate XRP usage, enabling the government to purchase Bitcoin at $60,000 per coin with secured funds.
In contrast, Bitcoin Magazine argues that these claims rest on flawed premises from the start and could not hold in the real-world finance environment.
The piece also notes that the Nostro-account concept is not supported as a basis for such a transaction.
It points out that the proposal does not explain how banks would source XRP.
Foreign coverage reportedly flags that the proposal does not examine the volume structure.
Bitcoin Magazine concludes that the argument lacks credibility given XRP’s supply constraints and that the U.S. government would have little reason to use XRP as a strategic asset.
The article emphasizes that XRP’s supply dynamics—much of which remains with the issuer—undermine the plausibility of its use as a strategic asset, especially when contrasted with Bitcoin’s widespread network security and energy-backed robustness.
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