• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Peter Schiff Addresses Donald Trump’s Bitcoin Reserve Proposal
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Bitcoin and BTC > Peter Schiff Addresses Donald Trump’s Bitcoin Reserve Proposal
Bitcoin and BTC

Peter Schiff Addresses Donald Trump’s Bitcoin Reserve Proposal

vitalclick
Last updated: November 12, 2024 6:47 am
7 months ago
Share
SHARE

Economic expert Peter Schiff proposes strategic Bitcoin strategy if former United States President Donald Trump is re-elected. $81,605 He criticized the reserve plan. Many industry leaders and some lawmakers welcome this proposal, but Schiff stated that this step could harm the US economy.

Dangerous Bitcoin Reserve CyclePolitical and International Developments

Dangerous Bitcoin Reserve Cycle

Schiff expressed concerns about heavily pushing BTC as an investment vehicle. He stated that if the US Government creates a Bitcoin reserve and purchases 1 million BTC, it can purchase more than this amount. He said this initial purchase would push the Bitcoin price to a new high, leading to early investors making huge gains.

Schiff suggested that after this increase, investors could convert their profits into cash by selling their BTC. He stated that this situation could cause the US government’s BTC assets to decrease rapidly. He stated that the government could print more dollars to keep prices stable and that this is unsustainable.

“If the US government bought 1 million Bitcoins, it could push the price very high and many investors could make huge profits.” –Peter Schiff

Political and International Developments

Bitcoin reserve plans gained support in Congress when Senator Cynthia Lummis introduced a bill on this issue. President-Elect Trump reiterated his plans for Bitcoin, sparking hopes in the industry. Countries such as Bhutan increased their Bitcoin reserves to over $1 billion.

On the other hand, while some industry leaders supported the BTC reserve plan, Schiff continued his support for Gold. Schiff stated that gold has a more solid stance as a precious metal and has stood the test of time.

Bitcoin’s current price has reached $87,300, setting a new all-time high and is up 10% in 24 hours.

While Bitcoin reserve plans lead to various discussions in the economic and political fields, different opinions and strategies continue to come to the fore.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

You Might Also Like

Metric Reaching 2-Year High Could Be a Danger Sign for Bitcoin Price

After Eric Trump’s statement, Bitcoin went on rise! How long can he rise?

When Will the New Record Level Come in Bitcoin? Important Data!

Capital Race Started with Bitcoin! Companies are now faster

Trump’s Victory Sent Bitcoin Options Soaring! Corporate Interest is at its Peak!

TAGGED:BitcoinBTC
Share This Article
Facebook Twitter Email Print
Previous Article This Breaking Development May Send Cryptocurrencies Soar Soon
Next Article Vitalik Buterin Talked About the Future of These Crypto Projects
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?