According to TechFlow, economist Peter Schiff criticized the Trump administration's policy of supporting Bitcoin on the social platform X, saying it led to capital misallocation.
Trump has pledged to make the United States a global leader in cryptocurrency and supports the inclusion of Bitcoin in national reserves, echoing Senator Cynthia Lummis' Bitcoin bill.
Schiff warned that it would be a big mistake for the United States to sell gold to buy Bitcoin, and recommended buying gold. He also criticized MicroStrategy's Bitcoin investment strategy as a "Ponzi scheme."
