Peter Schiff — yes, *that* Peter Schiff — is here again to remind us why Bitcoin could end civilization as we know it. This time, he’s swinging at the idea of a Strategic Bitcoin Reserve, calling it (wait for it) a full-blown crypto Ponzi scheme. Bold move, Pete. The man who loves gold so much he probably tucks his coins into bed at night accused former President Trump of turning Americans into reckless gamblers who might as well bet their entire mortgage on Bitcoin. 🪙💸
The “Trump Made Me Do It” Defense
In a rant on X—yeah, we’re still adjusting to that name—Peter Schiff bashed the Strategic Bitcoin Reserve’s “genius” plan to lure innocent folks into Bitcoin chaos. His take? Trump’s crypto bromance is officially turning America into a giant speculative dumpster fire. Oh, and don’t forget to invest responsibly — right after you sell your house and buy more gold. 🤷♂️
Apparently, Schiff thinks Trump’s love affair with Bitcoin rivals his obsession with golden interiors. According to our gold-loving friend, this could lead to “massive losses” for people whose financial IQ hovers somewhere between “I bought Dogecoin because my cousin said it’s cool” and “What’s a blockchain again?”
MicroStrategy’s “Bold” Approach … or Titanic Moment?
The Schiffster (can we call him that?) didn’t hold back his disdain for MicroStrategy either. Taking shots like the drunk guy at a karaoke bar, he mocked their Bitcoin-focused strategy, claiming heavy debt and volatile prices will sink them faster than an inflatable boat on the Titanic. Side note: MicroStrategy’s stock has dropped more than your favorite crypto meme coin since late 2024. 🚢
TRUMP Meme Coin — Peak to Plop
Speaking of meme coins, remember the TRUMP token everyone was hyping? Yeah, well, it’s crashing faster than your New Year’s resolutions. Schiff cheerfully called it an example of how not to invest. Apparently, investors thought Trump’s magical crypto words were some kind of financial fairy dust. Turns out, they’re more like glitter—cool for five seconds, then impossible to clean up. As of today, this meme coin is crawling at $11.08 after an 80% drop. Somewhere out there, Peter is sipping his tea, smugly nodding. 🍵
The coin’s $2.21 billion market cap somehow still manages to exist, probably like that friend who shows up unannounced but won’t leave even after you’ve run out of chips. Oh, and its 24-hour trading volume clocks in at $509.56 million. Impressive? Sure. Relevant? Eh. Don’t ask Schiff; he’s already laughed about it. 😂
Government + Bitcoin = Bad Romance?
If there’s anything Peter Schiff likes less than Bitcoin, it’s the government throwing its weight behind Bitcoin. During Trump’s victory lap at Blockworks Digital Assets Summit (truly a mouthful, isn’t it?), Schiff made it clear that mixing politics and crypto is basically like serving sushi with ketchup. Gross. 🐟🍅
To him, Bitcoin will never be a “real asset.” Ouch. Naturally, the Trump administration is doubling down on plans to keep crypto stashed away, deep in the government’s metaphorical sock drawer. Guess Peter will just yell louder next time. Maybe we’ll get a sequel. 🎬
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2025-03-21 03:06