{"id":19397,"date":"2024-12-10T17:30:26","date_gmt":"2024-12-10T15:30:26","guid":{"rendered":"https:\/\/forklog.com\/en\/peter-schiff-urges-u-s-government-to-sell-all-bitcoin-holdings\/"},"modified":"2024-12-10T17:30:26","modified_gmt":"2024-12-10T15:30:26","slug":"peter-schiff-urges-u-s-government-to-sell-all-bitcoin-holdings","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/peter-schiff-urges-u-s-government-to-sell-all-bitcoin-holdings\/","title":{"rendered":"Peter Schiff Urges U.S. Government to Sell All Bitcoin Holdings"},"content":{"rendered":"<p>Renowned Bitcoin critic Peter Schiff has suggested that U.S. President Joe Biden should sell all the Bitcoin held by the government, thereby preventing the creation of a <a href=\"https:\/\/forklog.com\/en\/news\/senator-cynthia-lummis-proposes-bill-for-us-bitcoin-reserves\">strategic reserve<\/a> in the leading cryptocurrency.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The one good thing <a href=\"https:\/\/twitter.com\/hashtag\/Biden?src=hash&#038;ref_src=twsrc%5Etfw\">#Biden<\/a> can do before leaving office is sell all the <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> currently held by the U.S. Govt. Not only would the money raised reduce the 2024 budget deficit, but it would put an end to all the nonsense about creating a harmful &#8220;Strategic&#8221; Bitcoin Reserve.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1866157505384235099?ref_src=twsrc%5Etfw\">December 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe one good thing Biden can do before leaving office is sell all the Bitcoin currently held by the U.S. Government. The money raised would not only reduce the 2024 budget deficit but also put an end to all the nonsense about creating a harmful \u2018strategic\u2019 Bitcoin reserve,\u201d Schiff stated.<\/p>\n<\/blockquote>\n<p>One commentator <a href=\"https:\/\/x.com\/BitBuyer313\/status\/1866158423936516445\">responded<\/a> to the critic, arguing that it is already too late to abandon the idea of a digital gold reserve\u2014Donald Trump has publicly expressed intentions, prompting U.S. competitors to develop their own alternatives.<\/p>\n<p>Many experts assert that U.S. moves towards establishing a national Bitcoin reserve serve as a significant incentive for governments worldwide to create similar reserves.<\/p>\n<p>Meanwhile, former U.S. Treasury Secretary Lawrence Summers has called the idea of a strategic reserve \u201cmadness.\u201d In his view, it merely panders to <a href=\"https:\/\/forklog.com\/en\/news\/winklevoss-twins-donate-2-million-in-bitcoin-to-trump-criticize-biden\">generous sponsors<\/a> of Trump&#8217;s campaign from the crypto industry. <\/p>\n<p>Back in November, Peter Schiff promoted his NFT collection on Bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renowned Bitcoin critic Peter Schiff has suggested that U.S. President Joe Biden should sell all the Bitcoin held by the government, thereby preventing the creation of a strategic reserve in the leading cryptocurrency. The one good thing #Biden can do before leaving office is sell all the #Bitcoin currently held by the U.S. Govt. Not [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1298,26],"class_list":["post-19397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-peter-schiff","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19397"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19396"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}