Deep Tide TechFlow news, on November 26, according to Bitcoin.com News, renowned economist and gold supporter Peter Schiff posted on social platform X, criticizing the Trump administration's support for Bitcoin policies. Schiff stated, "When the government picks winners and losers, it usually chooses losers. Since the Trump administration has chosen Bitcoin, Wall Street is mismatching capital massively into Bitcoin and related value-destroying enterprises."
Trump previously promised to establish the United States as a global leader in cryptocurrency, supporting the inclusion of Bitcoin in the national reserves. This position echoes the Bitcoin bill proposed by Wyoming Republican Senator Cynthia Lummis, which aims to integrate Bitcoin into the U.S. financial system.
In response to Senator Lummis's suggestion that the Federal Reserve sell gold reserves to buy Bitcoin, Schiff warned: "If the U.S. makes the significant mistake of selling gold to buy Bitcoin, you should buy gold, and if you hold Bitcoin, sell it to the U.S. government." He also criticized MicroStrategy's Executive Chairman Michael Saylor's Bitcoin investment strategy as a "Ponzi scheme," claiming that if forced to liquidate Bitcoin, the company could collapse.
