Peter Schiff Proposes Creating 'USA Coin' as Strategic Bitcoin Reserve Alternative

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Cointime2024/12/22 03:56

By:Cointime

economist and gold advocate Peter Schiff has once again expressed his opposition to a strategic Bitcoin reserve and proposed an alternative solution that the United States could adopt. Schiff posted on X, stating that the United States could save a lot of money by creating a "USA Coin" instead of a strategic Bitcoin reserve. Like Bitcoin, the supply limit of USA Coin is 21 million. He added that the currency should be operated on an upgraded blockchain to make it truly usable for payment. Schiff is a Bitcoin skeptic and has repeatedly stated his opposition to the idea of a strategic Bitcoin reserve.

Previously, Peter Schiff stated that one good thing President Biden could do before leaving office is to sell all the Bitcoin currently held by the US government. The funds raised could not only reduce the budget deficit in 2024, but also put an end to all the nonsense about a "strategic Bitcoin reserve". He added, "Biden can sell everything before Trump takes office, so Trump doesn't have to break his campaign promise."

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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