Well-known bitcoin critic Peter Schiff said that current US President Joe Biden should sell all bitcoins in the government’s possession, making it impossible to create a strategic reserve in the first cryptocurrency.
The one good thing #Biden can do before leaving office is sell all the #Bitcoin currently held by the US Govt. Not only would the money raised reduce the 2024 budget deficit, but it would put an end to all the nonsense about creating a harmful “Strategic” Bitcoin Reserve.
— Peter Schiff (@PeterSchiff) December 9, 2024
One of the commentators replied criticism that it is too late to abandon the idea of a reserve in digital gold – Donald Trump has voiced his intentions publicly, because US competitors are already developing their own alternatives.
Many experts argue that the US steps towards the sale of a national reserve of Bitcoin are a significant incentive for governments around the world to create analogues.
However, former US Treasury Secretary Lawrence Summers called the idea of a strategic reserve “madness.” In his opinion, this is just “indulging the generous donors of the election campaign” of Trump from the crypto industry.
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Source: Cryptocurrency
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