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After President-elect Donald Trump’s pro-Bitcoin campaign promises, economist Peter Schiff is warning the crypto community not to get too optimistic.
Trump pledged to make Bitcoin a U.S. strategic reserve asset, halt government BTC sales, remove SEC Chair Gary Gensler, and oppose a central bank digital currency (CBDC).
However, Schiff believes Trump may not keep these promises, suggesting the community could be overly hopeful.
Schiff, a longtime Bitcoin critic, recommends gold as a more reliable safe haven, calling the current Bitcoin surge speculative.
Bitcoin’s price rallied to a record above $75,000 as Trump’s winning odds rose, making over 11,000 new millionaires.
By November 6, Bitcoin stood at $74,390, with weekly gains over 3%. While market sentiment now aims for a potential $100,000 high, crypto expert Ali Martinez cautions that current momentum may stem from FOMO.
He advises a cautious approach as the situation unfolds.
Trump pledged to make Bitcoin a U.S. strategic reserve asset, halt government BTC sales, remove SEC Chair Gary Gensler, and oppose a central bank digital currency (CBDC).
However, Schiff believes Trump may not keep these promises, suggesting the community could be overly hopeful.
Schiff, a longtime Bitcoin critic, recommends gold as a more reliable safe haven, calling the current Bitcoin surge speculative.
Bitcoin’s price rallied to a record above $75,000 as Trump’s winning odds rose, making over 11,000 new millionaires.
By November 6, Bitcoin stood at $74,390, with weekly gains over 3%. While market sentiment now aims for a potential $100,000 high, crypto expert Ali Martinez cautions that current momentum may stem from FOMO.
He advises a cautious approach as the situation unfolds.
