Yerevan (CoinChapter.com) - MicroStrategy co-founder Michael Saylor unexpectedly supported a multi-token cryptocurrency reserve that includes XRP. In a recent interview with CNBC’s Sara Eisen, he said such a reserve is “bullish” for Bitcoin and the broader crypto industry.


This marks a significant shift from his earlier stance, when he expressed disdain for altcoins and emphasized the supremacy of Bitcoin. Saylor now describes this strategy as a progressive approach to digital assets.

Saylor’s Early Stance on XRP
In 2022, Saylor called XRP an unregistered security and urged the U.S. Securities and Exchange Commission (SEC) to take action against it. He previously argued that Bitcoin is the only legitimate cryptocurrency and dismissed altcoins.

His newfound support for a multi-token reserve has sparked criticism from industry insiders, with some pointing out the contrast between his past comments and his current stance.

XRP’s Elevated Role in Strategic Crypto Reserves
The multi-token reserve, which includes XRP, Cardano (ADA), and other tokens, has sparked mixed reactions. Some see it as a sign of crypto diversification, while others see it as a diversion from more pressing regulatory issues. Jake Chervinsky, chief legal officer at Variant, commented:

“It’s a distraction from the real work that must be done on stablecoins and market structure legislation.”

XRP trading activity surges on Canadian exchanges
Following the reserve announcement, XRP trading volume on WonderFi, a leading Canadian crypto exchange, increased by 37%. The exchange noted that XRP could become a mainstream asset for investors, similar to Bitcoin. The trading surge reflects growing interest in the token despite ongoing discussions about its regulatory status.

XRP price volatility after reserve announcement
Following the announcement, XRP’s price surged to a multi-week high of $2.9. However, it subsequently dropped 14% to settle at $2.5 on TradingView.


The price fluctuations reflect the uncertainty in the market, with some traders locking in profits while others await further developments.As the discussion on multi-token reserves continues, industry participants are watching how institutions respond to Saylor’s stance on XRP.

Ripple Unlocks 1 Billion XRP Amid Crypto Reserve Controversy
Ripple released 1 billion XRP tokens from escrow on March 3, after confirming that XRP was part of the United States’ multi-token cryptocurrency reserves. Data from Whale Alert suggests that 500 million tokens were transferred from an unknown wallet, while another 500 million remain in escrow.


Ripple has been following a monthly release schedule set in 2017, with its fourth-quarter report confirming that the company holds more than 38 billion XRP tokens and 4.5 billion in direct reserves.