Bitcoin opponent, economist Peter Schiff tweeted yesterday that Trump and Wall Street mistakenly made the U.S. a Bitcoin superpower, which will make the U.S. economy weaker. Moreover, he also tweeted on the 22nd that if the U.S. establishes a Bitcoin reserve, it would waste a large amount of taxpayer assets and misallocate funds from key industries. (Background: Arthur Hayes: Bull markets must remain rational and cash out at the right time, Bitcoin could reach $250,000 by the end of next year) (Background information: Bitcoin 'plunged $6,000 overnight' narrowly avoiding $93,000, Ethereum rebounded quickly, and funds flowed into altcoins) After Trump successfully won the presidential election, market expectations for the crypto policies promised by Trump increased significantly, driving Bitcoin to soar from $69,000 to over $99,000, attempting to break the $100,000 barrier. Furthermore, U.S. publicly listed companies led by MicroStrategy are planning to start or continue purchasing Bitcoin as a reserve asset, further laying the foundation for Bitcoin's value. However, this initiative led by the next president to support Bitcoin has been warned by economists that it could 'weaken the U.S. economy'. Peter Schiff: Trump's support for Bitcoin will weaken the U.S. economy. Against this backdrop, renowned economist and precious metals trader, SchiffGold founder Peter Schiff tweeted yesterday (25th) that Trump mistakenly made the U.S. a Bitcoin superpower, which will only make the U.S. economy weaker: When the government chooses 'winners' and 'losers', it usually chooses 'losers'. Since the Trump administration has chosen to support Bitcoin, Wall Street is making a fortune due to the massive misallocation of funds to Bitcoin and related businesses that destroy value. Becoming a Bitcoin superpower will only weaken the U.S. Additionally, Schiff tweeted on the 22nd that if the U.S. establishes a Bitcoin reserve, it would not only waste billions of taxpayer assets but also misallocate capital away from the key industries that the U.S. needs to develop: If the U.S. establishes a Bitcoin reserve, wasting billions of taxpayer funds to purchase Bitcoin, it would not only misallocate capital away from key industries that the U.S. needs to develop, but these industries are crucial for U.S. economic growth, reducing trade imbalances, shrinking fiscal deficits, and lowering inflation. Bitcoin opponents also regret not buying BTC. On the other hand, Peter Schiff is not only an economist and precious metals trader but also a gold supporter and a Bitcoin opponent. According to previous reports from Dong District, Schiff often tweets advising readers to sell Bitcoin and buy gold and silver. However, this Bitcoin opponent also has moments of admitting mistakes; just when Bitcoin surged to $73,000 in March, Schiff admitted in a podcast with Real Vision CEO and major cryptocurrency bull Raoul Pal that he regretted not buying Bitcoin when it was $1, saying that if he could go back in time, he would definitely buy Bitcoin. Related reports: Arthur Hayes: Bull markets must remain rational and cash out at the right time, Bitcoin could reach $250,000 by the end of next year; MicroStrategy adds $5.4 billion to purchase 55,000 BTC: Bitcoin at $97,000 is not expensive! Apple CEO Cook: Has held Bitcoin for 3 years, NFTs are interesting, but Apple has no intention to enter the cryptocurrency market in the short term. "Bitcoin antagonist Peter Schiff: Trump's support for BTC will only weaken the U.S. economy and waste billions in taxes" was first published by Dong District BlockTempo (Dong District Trends - the most influential blockchain news media).

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