Peter Schiff, an economist and Bitcoin critic, suggests that selling the U.S. government’s Bitcoin holdings could help reduce the 2024 budget deficit. He opposes the creation of a Strategic Bitcoin Reserve, calling it unnecessary and potentially harmful. Schiff believes selling the Bitcoin now would align with President-elect Trump’s commitment not to sell existing reserves.
The U.S. government currently holds approximately 198,109 BTC, valued at over $19 billion. Schiff’s recommendation also ties to political considerations, particularly regarding the incoming administration. The decision to sell or hold the U.S. government’s Bitcoin reserves in the coming months will likely depend on broader legislative and economic considerations.
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