Peter Schiff: If the US government strongly supports Bitcoin, it may eventually lead to the destruction of the US dollar

Odaily Planet Daily Report: As Bitcoin breaks through $100,000, economist and gold advocate Peter Schiff has expressed serious concerns about Bitcoin and the US economy. Schiff posted on X this week, saying: "Ironically, Bitcoin may ultimately destroy the dollar - not because it replaces the dollar as the global reserve currency, but because the US government may support Bitcoin, print trillions of dollars to buy Bitcoin, and fuel an even bigger bubble, squandering the nation's wealth." Schiff has long criticized the US government's fiscal policies, warning that such measures could exacerbate economic fragility. He also believes that "if the US establishes a Bit reserve, wasting billions of taxpayer dollars to buy Bit, it will also divert capital away from the industries the US must develop to promote economic growth, reduce trade imbalances, shrink fiscal deficits and lower inflation." (Bitcoin.com)