Renowned economist Peter Schiff came hard at the U.S. government’s endorsement of Bitcoin (CRYPTO: BTC), predicting potential economic consequences.
What Happened: On Monday, Schiff took to X to express his concerns over the incoming Donald Trump administration’s bet on the world’s leading cryptocurrency.
“Thanks to the Trump administration’s picking Bitcoin, Wall Street is winning bigly misallocating capital to Bitcoin and related value-destroying businesses,” Schiff stated.
Schiff’s remarks appeared to be directed at MicroStrategy Inc.‘s (NASDAQ:MSTR) aggressive Bitcoin buying strategy, now being emulated by other Wall Street companies like Rumble Inc. (NASDAQ:RUM).
In what appeared to be a dig at Trump’s popular ‘Make America Great Again’ slogan, Schiff said that becoming a Bitcoin superpower would make “America weaker.”
Renowned economist Peter Schiff came hard at the U.S. government’s endorsement of Bitcoin (CRYPTO: BTC), predicting potential economic consequences.
What Happened: On Monday, Schiff took to X to express his concerns over the incoming Donald Trump administration’s bet on the world’s leading cryptocurrency.
“Thanks to the Trump administration’s picking Bitcoin, Wall Street is winning bigly misallocating capital to Bitcoin and related value-destroying businesses,” Schiff stated.
Schiff’s remarks appeared to be directed at MicroStrategy Inc.‘s (NASDAQ:MSTR) aggressive Bitcoin buying strategy, now being emulated by other Wall Street companies like Rumble Inc. (NASDAQ:RUM).
In what appeared to be a dig at Trump’s popular ‘Make America Great Again’ slogan, Schiff said that becoming a Bitcoin superpower would make “America weaker.”
Renowned economist Peter Schiff came hard at the U.S. government’s endorsement of Bitcoin (CRYPTO: BTC), predicting potential economic consequences.
What Happened: On Monday, Schiff took to X to express his concerns over the incoming Donald Trump administration’s bet on the world’s leading cryptocurrency.
“Thanks to the Trump administration’s picking Bitcoin, Wall Street is winning bigly misallocating capital to Bitcoin and related value-destroying businesses,” Schiff stated.
Schiff’s remarks appeared to be directed at MicroStrategy Inc.‘s (NASDAQ:MSTR) aggressive Bitcoin buying strategy, now being emulated by other Wall Street companies like Rumble Inc. (NASDAQ:RUM).
In what appeared to be a dig at Trump’s popular ‘Make America Great Again’ slogan, Schiff said that becoming a Bitcoin superpower would make “America weaker.”
Full story available on Benzinga.com Read More$BTC, Bitcoin Reserve, Cryptocurrency, MSTR, News, Peter Schiff, RUM, Markets, MSTR, US5949724083, $BTC, RUM, News, Cryptocurrency, Markets, Benzinga Markets
