Saylor Suddenly Changes Tune on XRP

Strategy co-founder Michael Saylor, one of the staunchest advocates for Bitcoin maximalism, has seemingly endorsed the idea of a multi-token cryptocurrency reserve that includes XRP during a recent conversation with CNBC's Sara Eisen.

Saylor has stated that such a development is "bullish" for Bitcoin and for the broader cryptocurrency industry

The billionaire, who previously rejected the idea of investing in altcoins, has stated that he sees such a "progressive" approach as the best way to move forward

"I believe that the best thing for the country is to move forward with an enlightening progressive policy toward digital assets," he said

During a 2022 podcast appearance, Saylor stated that it was "pretty obvious" that the Ripple-affiliated XRP token was an unregistered security. He also urged the U.S. Securities and Exchange Commission (SEC) to shut down XRP and other altcoins

As reported by U.Today, the surprising announcement of a multi-token reserve, which includes XRP, Cardano (ADA), and other tokens, caused a substantial backlash

Even some crypto-friendly voices of the likes of Variant CLO Jake Chervinsky have criticized the initiative. "This is a distraction from the real work that must be done on stablecoin and market structure legislation, among other big priorities," he said