Bitcoin opponent Peter Schiff: Wall Street is misaligning a large amount of capital to Bitcoin, building Bitcoin reserves will weaken US power

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BlockBeats News: On November 26th, according to (Bitcoin.com) News, renowned economist and gold supporter Peter Schiff posted on social platform X, criticizing the Trump administration's policy of supporting Bitcoin. Schiff said, "When the government picks winners and losers, it usually chooses losers. Because the Trump administration chose Bitcoin, Wall Street is massively misaligning capital to Bitcoin and related value destroying businesses Regarding Senator Lummis' proposal for the Federal Reserve to sell its gold reserves to purchase Bitcoin, Schiff warned, "If the United States makes a major mistake of selling gold to buy Bitcoin, you should buy gold and sell it to the US government if you hold Bitcoin." He also criticized MicroStrategy Executive Chairman Michael Saylor's Bitcoin investment strategy as a "Ponzi scheme," claiming that if forced to sell Bitcoin, the company could collapse.

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