Peter Schiff Blasts Government Crypto Investments As ‘Waste of Resources’
Posted On March 7, 2025
Bitcoin (CRYPTO: BTC) critic Peter Schiff has slammed government investments in cryptocurrency, arguing that any country holding digital assets is a “loser.”
What Happened: In an X post on Friday, Schiff claimed that allocating public funds to crypto diverts capital from real wealth creation.
He stated, “The worst thing any government can do is encourage or subsidize this waste of resources.”
He questioned why people would opt for crypto backed by fiat when tokenized gold is available.
His remarks sparked heated debate, with one trader sarcastically suggesting he launch a “Schiff Coin.”
Schiff responded that it would …
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