In online spaces, the U.S. economist Peter Schiff is mostly known as an ardent supporter of gold and a major Bitcoin (BTC) skeptic.
BTC’s most recent bull run, however, led Schiff to make a highly unusual X post in which he apparently promotes investments in the cryptocurrency as a way to fix Social Security.
In the post, Schiff postulated that Social Security should seek to purchase about 25% of the total Bitcoin supply, thus driving the coin ‘to the moon’ and increasing the trust fund’s worth to approximately $100 trillion.
This would ensure that the fund can fully offset its 75-year forward-looking estimated unfunded liability of $23 trillion.
In the post, Schiff also explained that Social Security should then take inspiration from cryptocurrency investors and ‘hodl.’
I’m finally coming around. #Bitcoin fixes Social Security. I’ve got the plan:
The Social Security Trust Fund now owns about $2.7 trillion in Treasuries. It should sell all of those Trea
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