The President-elect of the United States, Trump, may establish a national Bitcoin strategic reserve after taking office, but Peter Schiff, the founder of SchiffGold, a gold bull and precious metals trader who is a Bitcoin skeptic, has previously clearly stated that he opposes the idea of the U.S. government establishing a strategic Bitcoin reserve.
Peter Schiff said on the 10th that before leaving office, U.S. President Biden should sell all the Bitcoin currently held by the federal government, saying that the funds raised through this move could reduce the budget deficit in 2024 and put an end to the ridiculous idea of establishing a strategic Bitcoin reserve.
Create a 'USA Coin' to replace the Bitcoin reserve?
On the 21st, Peter Schiff further proposed an alternative solution that the U.S. government could adopt, suggesting that it could create a 'USA Coin' instead of establishing a strategic Bitcoin reserve, and he said this would save the U.S. a lot of money:
Like Bitcoin, the USA Coin will have a supply cap of 21 million, and the USA Coin can be operated through an upgraded Block chain and can actually be used for payments, so we can all get rich.
Interestingly, Peter Schiff used the AI chatbot Grok to design a LOGO for the USA Coin, which features the portraits of Trump and Tesla CEO Musk, and Schiff also came up with the marketing slogan "HODL to the moon America!".
Peter Schiff: The USA Coin will be as scarce as Bitcoin
Schiff's remarks sparked heated discussion, and he later doubled down, announcing that since the idea of creating a USA Coin is becoming increasingly popular, he has decided to upgrade the LOGO design, which will feature the golden portraits of Trump and Musk, and he also called out to Trump:
Trump needs to issue an executive order to establish the USA Coin and set up a strategic reserve, Bitcoin is for losers, the USA Coin is for winners, buy the USA Coin or enjoy the pleasure of poverty.
In response to netizens, Schiff added that since the USA Coin will have a supply cap of 21 million, it will be as scarce as Bitcoin, but with greater practicality.
