On November 26, BlockBeats News reported that Peter Schiff, a prominent economist and gold advocate, criticized the Trump administration’s pro-Bitcoin stance on social platform X. Schiff stated that “When the government picks winners and losers, it usually picks losers. As the Trump administration has chosen Bitcoin, Wall Street is misallocating capital into Bitcoin and value-destroying businesses.” When Senator Lummis proposed that the Federal Reserve sell gold reserves to buy Bitcoin, Schiff warned, “If the U.S.
makes the mistake of selling gold and buying Bitcoin, you should buy gold, and if you hold Bitcoin, sell it to the government.” He also condemned MicroStrategy Executive Chairman Michael Saylor’s Bitcoin investment strategy as a “Ponzi scheme,” asserting that the company might collapse if forced to sell its Bitcoin holdings.
Source
<p>The post Bitcoin Investments: A Risky Strategy or a Smart Move? first appeared on CoinBuzzFeed.</p>
