Controversial Call
The famous economist and Bitcoin critic, Peter Schiff, recently suggested that President #JoeBiden sell all the Bitcoin that the US government holds. He argues that the proceeds could help reduce the 2024 budget deficit and eliminate the ideas of establishing a 'Strategic Bitcoin Reserve' which he considers harmful.
On Twitter, Schiff emphasized:
"The best thing Biden can do before leaving office is to sell all $BTC currently held. This would not only reduce the budget deficit but also prevent the dangerous 'Strategic Bitcoin Reserve' plans."
Public Reaction
A Twitter user replied that Donald Trump suggested keeping BTC as part of the national reserve, prompting many other countries, such as Russia and Brazil, to consider establishing their own Bitcoin reserves.
Schiff countered, asserting #TRUMP that he would only maintain the current BTC holdings and has no plans to buy more. He believes Biden should act quickly to prevent Trump from implementing such policies upon returning to the White House.
International Context
While Schiff focuses on defending gold as a national financial tool, other countries have begun to see Bitcoin as a means of hedging against geopolitical risks and inflation. Russia, Brazil, and Poland are actively exploring Bitcoin reserve plans.
Schiff's Contradictory Actions
Despite consistently criticizing Bitcoin, Schiff recently sold his collection of Bitcoin Ordinals to take advantage of the record high prices, leading the public to question the inconsistency in his stance.
📌 Conclusion: The debate about the US Bitcoin strategy is attracting attention, not only domestically but also from international trends. Schiff's call indicates a deep division in the perception of Bitcoin's role in the global economy.