The growing support of US President Donald Trump’s support for Bitcoin was rapidly criticized by economist Peter Schiff.
Schiff posted Bitcoin’s dollar to “add additional pressure to the dollar,” and posted expenditures for cryptocurrency as “harmful to our country.”
According to the report, Trump thinks that Bitcoin lifts jobs and alleviates the burden on the dollar, but Schiff says that the opposite can be true.
Trump and Bitcoin: Effect on Dollar demand
According to Peter Schiff, when people change the US dollar to Bitcoin, they take away demand from major preliminary currencies in the world.
The price of Bitcoin has increased by more than 30% this year, and some are considered shields for inflation. Schiff argues that the dollar sales are far from the back of the bag.
He warned that a wider economy could feel the influence as the trend increased.
Trump insisted that Bitcoin was “a dollar pressure and good for the country.” But selling dollars to buy Bitcoin adds pressure to the dollar. In addition, waste of resources for Bitcoin is harmful to our country.
-Peter Schiff (@peterschiff) June 28, 2025
Government and state reserves
According to the report, the federal government does not plan to sell the dollar directly. Instead, we will build a strategic Bitcoin protection zone using crime and civil confiscation funds.
At least 10 stocks, including Texas and Florida, are undergoing a lawsuit. They set up capital separately to buy and catch encryption in the balance table. This change means that government agencies can be connected to volatile assets.
Trump Media’s encryption strategy
Trump Media, a private venture by US President Donald Trump, raised $ 2.3 billion in stock products and convertible notes to supply fuel to the Bitcoin Treasury.
In May, the White House event hosted the best holder of “Trump” meme coin. Participants spent almost $ 150 million in their seats at dinner.
Critics say that these families have already spent more than $ 1 billion in encryption ventures. This figure shows how deep the campaign is citing the encryption community.
Political and financial risk
Peter Schiff is not about Trump’s password promotion, but about chasing wealthy donors.
He explained the fundraising event as “floey to attract encryption -based support.” At the same time, the volatility of the bitcoin market has real financial risks. Sudden prices can leave a protective area tied to losses rather than profit.
Recent investment in Defi
Another Trump family business, the World Liberty Financial, has invested $ 100 million from Aqua 1 as part of a decentralized expansion plan.
Trump Junior said the family forced the family to cryptocurrency due to the reduction of banks, but many people see the movement as a bid for new funds. This transaction emphasizes how a family bets on the emerging encryption sector.
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