{"id":56618,"date":"2025-11-04T15:01:52","date_gmt":"2025-11-04T15:01:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=56618"},"modified":"2025-11-04T15:01:52","modified_gmt":"2025-11-04T15:01:52","slug":"peter-schiff-doubts-trumps-crypto-plans-labels-bitcoin-a-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=56618","title":{"rendered":"Peter Schiff Doubts Trump\u2019s Crypto Plans, Labels Bitcoin a Ponzi Scheme"},"content":{"rendered":"
\n

Economist Peter Schiff has once again sparked controversy by criticizing U.S. President Donald Trump\u2019s recent endorsement of digital assets.<\/p>\n

The renowned gold bug alleged that the administration is prioritizing speculative schemes over genuine economic innovation.<\/p>\n

Schiff Slams Trump\u2019s \u201cCrypto Capital\u201d Vision<\/h2>\n

Schiff\u2019s remarks came after Trump reiterated his \u201c100% support\u201d for the digital asset industry in a recent interview, vowing to make the United States the world\u2019s \u201cCrypto Capital.\u201d The president stressed that his top priority is to keep the U.S. first in crypto ahead of China.<\/p>\n

However, the Bitcoin critic mocked<\/a> the idea that leading in this sector is a sign of economic strength, suggesting instead that it shows poor policy priorities.<\/p>\n

\n

\u201cChina wants to be number one in real industries,\u201d he wrote on X. \u201cAmerica\u2019s number one in Ponzi schemes, not progress.\u201d<\/p>\n<\/blockquote>\n

It isn\u2019t the first time Schiff has criticized the Trump administration\u2019s growing embrace of Bitcoin and its push to integrate digital assets into mainstream government policy. Earlier this year, he warned<\/a> that allowing the flagship cryptocurrency in retirement plans could hasten the decline of the U.S. dollar. He has also criticized corporate accumulation of Bitcoin, calling it \u201ca Ponzi built on a pyramid\u201d fueled by speculative hype.<\/p>\n

Most recently, he challenged Strategy chairman Michael Saylor to a public debate on whether Bitcoin represents the future of money or a financial illusion ready to collapse.<\/p>\n

Gold Advocate Mocks Bitcoin\u2019s Price Drop<\/h2>\n

At the time of writing, Bitcoin was trading at around $104,000, down by more than 8% in the last seven days and over 17% below its October all-time high. In typical fashion, Schiff seized on the dip to taunt<\/a> supporters of the cryptocurrency, saying, \u201cBitcoiners are in denial. Wake up and smell the tulips.\u201d<\/p>\n

Members of the BTC community on X quickly fired back, with one arguing that the crypto skeptic was the one in denial and that both Bitcoin and gold can coexist as valuable investment options. Others simply reminded him of how many times his predictions had proven to be wrong.<\/p>\n

According to data gathered by the Grok AI platform, Schiff has made<\/a> at least 237 bearish Bitcoin predictions since 2011, each forecasting its crash, collapse, or ultimate worthlessness. In that time, the asset\u2019s price has shot up by at least 1,000,000%, turning the 62-year-old\u2019s warnings into a series of poorly timed pessimism.<\/p>\n

However, the low success rate of his predictions has not stopped Schiff\u2019s relentless attack on the OG crypto. He recently maintained that Bitcoin remains<\/a> in a bear market. He has also repeatedly questioned<\/a> its reputation as \u201cdigital gold,\u201d insisting it has failed to match the precious metal\u2019s enduring value.<\/p>\n

The post Peter Schiff Doubts Trump\u2019s Crypto Plans, Labels Bitcoin a Ponzi Scheme<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Economist Peter Schiff has once again sparked controversy by criticizing U.S. President Donald Trump\u2019s recent endorsement of digital assets. The renowned gold bug alleged that the administration is prioritizing speculative schemes over genuine economic innovation. Schiff Slams Trump\u2019s \u201cCrypto Capital\u201d Vision Schiff\u2019s remarks came after Trump reiterated his \u201c100% support\u201d for the digital asset industry […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-56618","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/56618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56618"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/56618\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}