Peter Schiff Accuses Trump Of Endorsing Bitcoin

Economist Peter Schiff, an advocate for gold, has called out Donald Trump’s position on BTC ahead of the US Presidential election. Peter Schiff has condemned Donald Trump’s position on the subject of Bitcoin. He also called out Michael Saylor’s Bitcoin adoption strategy. This is as Bitcoin and crypto asset have become more popular in mainstream circles as it approaches election day.

Gold bug Peter Schiff has been critical of Donald Trump’s view on Bitcoin (BTC) during recent months. The stalwart golf enthusiast has been a huge critic of bitcoin and the cryptocurrency market lately. All these come at a time when assets under this class have gained popularity before the United States Presidential elections.

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Peter Schiff Slams Donald Trump Over Bitcoin

The gold enthusiast has castigated Donald Trump over his stand on Bitcoin as the US presidential elections are drawing close. 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. This continues to create much anticipation as we head to former President who is expected to headline at a bitcoin conference.

In his continuation with castigation against Bitcoin, Peter Schiff added that when a president gambles tax payer’s money on Bitcoin, it is worse than a CEO doing the same with shareholder’s money. In response to this, crypto enthusiasts have criticized him pointing at the asset’s growth in the last decade compared to precious metals.

Tech and crypto executives backing Donald Trump anticipate favorable regulations to encourage innovation in the USA. Recent events led to about $4 million in crypto donations, driven by media coverage and user interest.

Michael Saylor Faces Criticism For His Strategy

Peter Schiff criticized Saylor for failing to persuade CEOs to add Bitcoin to their balance sheets. Initially contacting companies about BTC, Saylor now advocates for Trump to include them on the national balance sheet.

For several years now, Michael Saylor has remained very much bullish about Bitcoin and has never changed his pro-industry position. This is why he heavily invests in Bitcoin through MicroStrategy as he looks forward to more adoption in this space.