Schiff blasted the concept that the government might buy BTC today and sell it 20 years later.
Borrowing billions to purchase BTC, according to Schiff, only increases debt and inflation.
Bitcoin sceptic Peter Schiff recently criticized the Bitcoin community for its illogical arguments over the US national debt. The belief that the Federal Reserve would soon switch to money printing has led many Bitcoin proponents to predict that the price of BTC will skyrocket to millions of dollars per coin, further increasing the US national debt. Schiff thinks this kind of thinking is completely incorrect.
To settle the national debt without inducing inflation, Schiff blasted the concept that the US government might buy Bitcoin today and sell it 20 years later.
Additionally, he brought attention to the paradoxical aspect of thinking that Bitcoin’s price could reach such high values as a result of inflation, while also proposing that the government might use Bitcoin to deal with the de
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