Peter Schiff slams crypto bills, calling Bitcoin a 'decentralized Ponzi scheme' and warns of dollar decline. Is Trump's crypto push bold or risky?
Peter Schiff is at it again, folks! The gold bug and crypto skeptic extraordinaire is back in the headlines, railing against Bitcoin and the recent crypto-friendly legislation signed into law by President Trump. Let's dive into Schiff's fiery opinions and see what all the fuss is about.
Schiff's Stance: Bitcoin is a Ponzi Scheme
Schiff's core argument remains unchanged: Bitcoin is a "decentralized Ponzi scheme." He believes the recent legislative efforts—including the GENIUS Act, CLARITY Act, and anti-CBDC bill—are simply tools to legitimize Bitcoin and allow industry insiders to cash out at inflated prices. According to Schiff, these bills represent a "legislative low point."
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