Trump’s Crypto Competition With China Futile, Says Peter Schiff: ‘Chinese Leadership Is Too Smart To Care About Bitcoin’
Posted On February 5, 2026
Economist Peter Schiff questioned on Wednesday President Donald Trump’s push to make the U.S. the “world capital” of Bitcoin (CRYPTO: BTC), arguing that Beijing couldn’t care less about the leading cryptocurrency.
China Not Bothered About Bitcoin, Says Schiff
In an X post, Schiff slammed Trump’s oft-repeated argument that the U.S. must dominate cryptocurrency and blockchain technology to stop China from getting ahead.
“But Chinese leadership is too smart to care about Bitcoin,” Schiff said. “While we’re wasting capital and resources, they’re building factories and buying gold.”
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