Economist and Bitcoin critic Peter Schiff's criticism of President Donald Trump's support for cryptocurrency plans has sparked new controversy. Schiff criticized the Trump administration for supporting Bitcoin, claiming it would undermine the U.S. economy. On Monday, Schiff posted on social media platform X: "When the government picks winners and losers, it usually picks losers. Because the Trump administration has chosen Bitcoin, Wall Street is hitting the jackpot, misallocating capital to Bitcoin and related value-destroying enterprises."