ChainCatcher news, economist and gold advocate Peter Schiff posted on X: "Most of the people buying Bitcoin now believe it will make them rich. Most of those who already own Bitcoin refuse to sell because they hold the same belief. The majority of those selling Bitcoin have already become wealthy because they bought Bitcoin years ago and are now cashing out.Many people buying gold actually need it for business. Investors buy gold not to get rich, but to preserve wealth, or at least to maintain the value of their existing assets. So there is a significant difference between the two."Schiff also stated: "Today's Bitcoin price has once again reached a new all-time high. It is very likely that tomorrow we will find out the buyer is Michael Saylor. This seems to be a trend, as this has happened for the past five Mondays."

ChainCatcher news, economist and gold advocate Peter Schiff posted on the X platform that one good thing Biden could do before leaving office as President of the United States is to sell all the Bitcoin currently held by the U.S. government. The funds raised could not only reduce the budget deficit for 2024 but also put an end to all the nonsense about "strategic Bitcoin reserves." He added, "Biden could sell everything before Trump takes office, so Trump wouldn't have to go back on his campaign promises."

ChainCatcher news, according to Bitcoin.com News, renowned economist and gold supporter Peter Schiff posted on social platform X, criticizing the Trump administration's support for Bitcoin policies. Schiff stated, "When the government picks winners and losers, it usually picks losers. Since the Trump administration chose Bitcoin, Wall Street is misallocating capital massively into Bitcoin and related value-destroying enterprises."In response to Senator Lummis's suggestion that the Federal Reserve sell gold reserves to buy Bitcoin, Schiff warned, "If the U.S. makes the grave mistake of selling gold to buy Bitcoin, you should buy gold, and if you hold Bitcoin, sell it to the U.S. government." He also criticized MicroStrategy Executive Chairman Michael Saylor's Bitcoin investment strategy as a "Ponzi scheme," claiming that if forced to sell Bitcoin, the company could collapse.

ChainCatcher news, according to News.bitcoin, economist and gold advocate Peter Schiff harshly criticized Trump's economic policies on the social media platform X this week, highlighting the risks he sees in current financial practices and some unfulfilled promises.Schiff believes that the optimism surrounding the "Trump-induced economic boom" is misguided, pointing out that potential economic vulnerabilities could undermine this positive outlook. He stated that tax cuts are likely to continue, but corresponding spending cuts are almost certain not to happen.Schiff further warned that uncontrolled deficits could prompt the Federal Reserve to re-implement quantitative easing, leading to increased inflation. For those concerned about inflationary pressures, Schiff suggested that "Trump's best deal right now is to buy when gold and gold mining stocks are down," believing that gold is a stable asset during times of economic uncertainty.

ChainCatcher news, according to Bitcoin.com, economist and gold advocate Peter Schiff warned that restoring the real economy requires the collapse of the "false economy," which will lead to significant financial losses for many. He also emphasized that the alternatives are worse, as they will lead to currency devaluation. Schiff criticized the policies of the government and the Federal Reserve, especially after the 2008 financial crisis, and warned that today's debt-driven economic bubble is larger than ever before. He pointed out that the government did not learn from the financial crisis, and the Federal Reserve did not acknowledge its role in the crisis, but instead continued to implement measures that led to the crisis.Schiff believes that the current economic situation is more severe, with higher debt levels and larger bubbles. He stated, "Our current debt far exceeds that of 2008, the bubble is larger, and it involves more than just residential housing; we are on the brink of a larger economic crisis, and this time there may be no rescue measures." Regarding the future, Schiff emphasized that the "false economy" must collapse in order to return to a more stable system, and he acknowledged that this process will be painful.

ChainCatcher news, according to Bitcoin.com, economist and gold advocate Peter Schiff has suggested that the Federal Reserve should raise interest rates instead of lowering them, even if it leads to a market crash. He acknowledged that this approach could result in a collapse of the stock and real estate markets, leading to a hard landing and triggering a recession, emphasizing the potential severity of these market consequences.Economist and gold advocate Peter Schiff recently shared his views on the U.S. economy, Federal Reserve policy, market rebounds, and the possibility of upcoming interest rate cuts on his podcast and social media platform X. Peter Schiff pointed out that decades of Federal Reserve policy have made an economic recession inevitable. He suggested that the Federal Reserve should not lower interest rates but should raise them, even if it triggers a market crash, which he believes is a "necessary collapse" to correct the economy.He stated, "The right thing to do is to raise interest rates further and let everything take its course. Of course, the stock market will crash. The real estate market will crash. We will have a hard landing. The economy will go into recession." Despite these views, the gold enthusiast acknowledged that market sentiment is increasingly confident about an imminent interest rate cut, possibly even before the September meeting. This expectation has already begun to influence market psychology.

ChainCatcher message, economist Peter Schiff posted on social media that ETFs go against the original intention of Bitcoin; it is no longer decentralized, not peer-to-peer, easily confiscated, cannot be used as a payment currency, and cannot be transferred across borders. Users no longer hold private keys, so it is no longer their coin.

ChainCatcher news, gold advocate and economist Peter Schiff tweeted, "If Trump really intends to use the seized Bitcoin to launch America's Bitcoin strategic reserve, then he will keep his intentions secret before he actually takes office. Now, the Biden administration may sell all the Bitcoin before Trump takes office."

ChainCatcher news, according to News.bitcoin, gold advocate and economist Peter Schiff stated on the X platform this week that the Bitcoin bear market has a long way to go, currently "at a critical support level." If the support level is unstable, the price could drop significantly. Peter Schiff attributed part of the Bitcoin decline to sales related to the Mt. Gox repayments, but he argued that this also exposes the "myth of institutional demand." He stated, "If this demand truly existed, buyers would seize the opportunity to purchase Mt. Gox Bitcoin off the market."Peter Schiff also commented on the spot Bitcoin ETF, believing that although Bitcoin ETF buyers are still holding, there are currently no signs of panic. "Based on trading activity, Bitcoin ETF buyers seem to still be holding. So far, there are no signs of panic. Bitcoin may need to drop significantly before they finally capitulate. This could happen as early as next week, especially after another large-scale sell-off this weekend." Peter Schiff also predicted that the price of Ethereum would drop. "I think the price is about to fall to $1,500. It seems those who bought into the Ethereum ETF rumors are eager to sell."Previous news, gold advocate Peter Schiff: The outflow of funds from the spot Bitcoin ETF will soon put significant downward pressure on Bitcoin.

ChainCatcher news, according to Bitcoin.com, gold advocate and economist Peter Schiff expects explosive increases in gold and silver prices, encouraging investors to "take advantage of what may be the largest precious metals bull market in history."Peter Schiff also reiterated his pessimistic view on Bitcoin. He stated, "Bitcoin is dead money. Sell it before it gets buried. Four months ago, when the Bitcoin (spot) ETF was launched, there were no sellers, only buyers. But now many investors hold these ETFs, and the potential supply of sellers is large. However, as new buyer demand decreases, the outflow of funds from the ETFs will soon put significant downward pressure on Bitcoin."