As talk of a US strategic crypto reserve moves from fringe debate to political reality, attention is turning to which assets could make the cut — and one leading investment and industry voice has a clear view on where the line should be drawn.
Richard Byworth, managing partner at Syz Capital, said the best reserve asset is already proven — and it’s Bitcoin.
“It’s clear that assets like Cardano, XRP, Solana, and even Ethereum — all of which rely on more centralized structures and pre-mined supply — are not natural fits for a sovereign reserve,” Byworth explained. “These are essentially corporate databases that issued currencies to benefit their earliest backers.”
That raises some interesting questions about how the shortlisting process is unfolding. Byworth points out that the five assets reportedly floated by Trump — Bitcoin, Ethereum, Solana, XRP, and Cardano — are included in the Bitwise Crypto Top 10 Index, a product in which Trump’s new “Crypto Tsar,” David Sacks, holds indirect exposure via his firm Craft Ventures.
Coincidence? Maybe. But it’s a detail that hasn’t escaped the market’s attention.
Still, Byworth sees potential grand brinkmanship at work. This could be a classic Trump negotiation play, designed to trigger debate, divide opinion, and ultimately unite the crypto community behind one obvious winner — Bitcoin.
It’s a strategy that could already bearing fruit. Even long-time Bitcoin critic Peter Schiff has weighed in, saying only Bitcoin belongs in a reserve of this scale. At the same time, CNBC’s Ran Neuner and Coinbase CEO Brian Armstrong have both publicly supported a Bitcoin-first approach.
What gives Byworth even more confidence is the roster of advisors shaping Trump’s views on digital assets. From RFK Jr. to Howard Lutnick and Scott Bessent, there’s no shortage of voices close to Trump who understand exactly why Bitcoin stands apart — and why proof of work matters in the context of national resilience.
“This is bigger than just crypto,” Byworth concluded. “It’s about building a reserve that can stand the test of time — and history has already shown that when it comes to digital assets, Bitcoin is in a class of its own.”
