Peter Schiff Calls Out Trump For Endorsing Bitcoin

Highlights
- Peter Schiff criticized Donald Trump’s stance on Bitcoin.
- He also called out Michael Saylor’s Bitcoin adoption strategy.
- This comes as Bitcoin and crypto asset gains mainstream popularity ahead of the polls.
Renewed economist Peter Schiff has criticized Donald Trump’s Bitcoin (BTC) stance in recent months. The staunch golf advocate has been a major critic of Bitcoin and the crypto market in recent times. This comes on the heels of the asset class gaining popularity in the run-up to the United States Presidential elections.
Peter Schiff Tackles Donald Trump On Bitcoin Stance
The gold enthusiast has taken a swipe at Donald Trump’s Bitcoin stance as the US Presidential elections approaches. Crypto executives and holders have tipped Trump to usher in the needed regulatory clarity in the sector. This is based on recent positive comments as well as leanings to a pro-crypto stance. The former President is expected to headline the Bitcoin Conference amid growing anticipation.
Peter Schiff continued his criticism of Bitcoin adding that a president who gambles taxpayer money on Bitcoin is worse than a CEO doing the same with shareholder money. In a swift reaction crypto enthusiasts have criticized his views pointing at the asset’s growth in the last decade compared to precious metals.
Donald Trump has also received the backing of crypto and tech executives all hinting at positive regulations to drive innovation in the United States. Trump’s recent stance has led to about $4 million in crypto donations as user enthusiasm spikes following recent traction.
Also Read: Cardano Enters Chang Hard Fork Era With Node 9.1.0 Upgrade
Michael Saylor Takes Criticism For His Strategy
Peter Schiff pointed out that Saylor failed in his former approach to convince CEOs to add Bitcoin to the company’s balance sheet. In a recent post on X (formerly Twitter), he pointed out that the MicroStrategy executive initially tried to convince companies to adopt BTC to the balance sheet but has pivoted to attempts to convince Trump to add the assets to the national balance sheet.
Michael Saylor remains bullish on Bitcoin maintaining his pro-industry stance for years. MicroStrategy is a big investor in Bitcoin as he eyes more adoption in the space.
Also Read: Chevron Case Winning Lawyer Paul Clement Joins Coinbase Board
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M