CandleFocus 7 Reasons Why U.S. Bitcoin Reserve Could Backfire Big Time!
2024-11-11
Author: Content Editor
The idea of the U.S. government establishing a Bitcoin reserve has sparked a debate. Financial commentator Peter Schiff argues that if the U.S. bought a significant amount of Bitcoin, prices would skyrocket, leading to market turbulence. Schiff believes the government would then need to keep buying more Bitcoin to stabilize its price, ultimately driving hyperinflation and rendering the dollar worthless. He predicts this would result in a market collapse and economic disparity. Schiff also claims that Bitcoin lacks intrinsic value compared to gold. However, Bitcoin proponents believe that a soaring Bitcoin price would strengthen the U.S. economy.
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