Economist Peter Schiff criticized Donald Trump's Bitcoin-centric policy, arguing it contradicts efforts to reduce the U.S. trade deficit. Schiff said on X that scarce resources needed for production are being diverted into cryptocurrency ventures, deepening America's reliance on imports. He dismissed claims that Bitcoin builds digital value, stating, "no value is created" and money only circulates between buyers and sellers. Schiff has criticized the U.S. Strategic Bitcoin Reserve and rejected the idea of Bitcoin as a hedge against the dollar, citing its growing correlation with the U.S. economy.
