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While Trump Bets on Bitcoin, Economist Peter Schiff Calls It a Dangerous Game

  • Trump praises Bitcoin as an economic booster, while economist Peter Schiff sees it as a destabilizing force.
  • Schiff argues that converting U.S. currency into Bitcoin weakens demand for the dollar, diverting resources into what he deems an unproductive asset.
  • The federal government and some U.S. states are accumulating Bitcoin reserves, with critics suggesting Trump's media company's $2 billion raised for its Bitcoin treasury aims more at wealthy crypto donors.
  • Schiff warns that Trump's move into crypto could have serious consequences for the dollar's future as it might be viewed as a dangerous game.

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