Bitcoin critic and economist Peter Schiff has again targeted Donald Trump’s US Bitcoin Reserve plan, mocking its recent performance amid a broader market slump.
Schiff expressed his belief that the US would be better off financially if it had opted to build a gold reserve instead of relying on Bitcoin, which has suffered a 12% loss since the reserve’s creation in early March 2025.
Schiff’s Bitcoin vs. Gold Argument
In a recent post on X, Schiff criticized the Bitcoin Reserve established on March 6, 2025, pointing out that it has already posted a 12% loss in value. He contrasted this with gold, which has experienced slight price gains over the same period. According to Schiff, had the US chosen gold instead of Bitcoin for its reserve, it would not only have avoided the 12% loss but would now be seeing a 2% gain.
Schiff emphasized that gold remains a safer bet, especially during uncertain economic times. He rejected comparisons to the Biden administration’s previous decision to sell Bitcoin early, claiming that such discussions were irrelevant. In his view, only the performance from the start of the Bitcoin Reserve matters.
Schiff Raises Concerns Over US Economy and Potential Recession
Schiff didn’t stop at criticizing Bitcoin reserves. He also warned about the US economy, drawing attention to President Trump’s tariff policies, which he believes could lead the country into a recession. He cautioned that the stock market has not yet accounted for the damage that could arise from these trade policies.
Schiff warned that equities are still overvalued and that the US could face its worst economic downturn since the Great Depression if a recession occurs. Even a 50% drop in the stock market, he argued, might not be enough to reflect the true scale of the impending crisis.
Author
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
