Peter Schiff warns that Trump's Bitcoin strategy could weaken the US dollar

Economist Peter Schiff warns that Donald Trump's support for Bitcoin could threaten the USD and the American economy. In a post on X, Schiff criticized the conversion of USD to Bitcoin, stating that it would weaken the global standing of the currency and cause long-term harm to the economy. He is also concerned that the plan to establish a Strategic Bitcoin Reserve Fund by the Trump administration would increase financial risks.

Meanwhile, Trump praised Bitcoin for creating jobs and delivering superior returns. His family is ramping up cryptocurrency investments, with Trump Media raising 2.3 billion USD and WLFI receiving 100 million USD from Aqua 1. Schiff accused Trump of exploiting Bitcoin to attract funding and serve family interests, especially after the White House party with meme coin TRUMP investors. Controversy continues to spread in the financial and political spheres.