Peter Schiff: If the US government strongly supports Bitcoin, it may eventually lead to the destruction of the US dollar

As Bitcoin breaks through $100,000, economist and gold advocate Peter Schiff has raised serious concerns about Bitcoin and the U.S. economy. Schiff posted on X this week: "The irony is that Bitcoin could end up destroying the dollar - not because it replaces the dollar as the global reserve currency, but because the U.S. government could support Bitcoin, print trillions of dollars to buy Bitcoin, and fuel a bigger bubble, squandering the country's wealth." Schiff has been critical of the U.S. government's fiscal policy, warning that such measures could increase economic fragility. He also believes: "If the United States builds up a Bitcoin reserve and wastes billions of taxpayer dollars to buy Bitcoin, it will also divert capital away from industries that the United States must develop to promote economic growth, reduce trade imbalances, narrow fiscal deficits, and reduce inflation." (Bitcoin.com)