BTC archvillain Peter Schiff: Trump's support for BTC will only weaken the US economy and waste billions of tax dollars

BTC opponent, economist Peter Schiff tweeted yesterday that Trump and Wall Street mistakenly made the United States a BTC superpower, which will make the US economy more vulnerable, not only that, he also tweeted on the 22nd that if the United States builds BTC reserves, it will cost a lot of taxpayer assets and misallocate funds for key industries. (Arthur Hayes: Bull Market should remain rational and cash out in a timely manner, BTC looks at $250,000 at the end of next year) (Background supplement: BTC "overnight big dump of $6,000" narrowly lost 93,000, Ethereum rebounded quickly, and funds flowed into AltCoin) After Trump successfully won the presidential election, the market's expectations for Trump's previously promised encryption policy increased significantly, which in turn pushed BTC from 6.9 The $10,000 soared above $99,000 and tried to hit the $100,000 mark. Not only that, U.S. listed companies, led by Micro Strategy, are planning to start or continue to purchase BTC as a reserve asset, further laying the foundation for the value of BTC. However, such a move to support BTC spearheaded by the next president has been warned by economists that it could "weaken the US economy". Peter Schiff: Trump's support for BTC will weaken the US economy In this context, Peter Schiff, a well-known economist and founder of precious metals trader SchiffGold, tweeted yesterday (25) that Trump's mistake in making the United States a BTC superpower will only make the US economy more vulnerable: When the government chooses "winners" and "losers", it usually chooses "losers". Because the Trump administration has chosen to support BTC, Wall Street is making a fortune from a massive misallocation of money to BTC and related value-destroying businesses. Becoming a BTC superpower will only make the United States weaker. In addition, Schiff also tweeted on the 22nd that if the United States builds BTC reserves, it will not only waste billions of taxpayer assets, but also transfer funds from key industries that the United States needs to develop: If the United States builds BTC reserves, it wastes billions of taxpayers' funds to buy BTC, not only that, but also mismatches capital from the key industries that the United States needs to develop, which are the key to US economic growth, reducing trade imbalances, reducing fiscal deficits and dropping inflation. BTC villain also regrets not buying BTC On the other hand, Peter Schiff is not only an economist and founder of precious metals traders, he is also a gold supporter and BTC opposition, according to previous reports in the area, Schiff often tweets to encourage readers to sell BTC and buy gold and silver. However, the BTC opposition also confessed and repented, just when BTC rushed to $73,000 in March, Schiff confessed on a podcast show with Real Vision CEO Raoul Pal that he regretted not buying BTC at $1, and if he went back in time, he would definitely buy BTC. Arthur Hayes: Bull Market should be rational and cash out in a timely manner, BTC looks at $250,000 at the end of next year Micro strategy increases the position of $5.4 billion to buy 55,000 BTC: BTC 97,000 is not expensive! Apple CEO Tim Cook: It is interesting to have held BTC for 3 years and non-fungible token, but Apple has no intention of entering cryptocurrency in the short term 〈BTC villain Peter Schiff: Trump's support for BTC will only weaken the US economy and waste billions of taxes" This article was first published in BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".