Peter Schiff: Bitcoin Is A Threat To The US And 'Public Enemy Number One'

Renowned Bitcoin critic Peter Schiff has labelled Bitcoin (CRYPTO: BTC) as a greater threat to the U.S. than to gold.

What Happened: In a post on social media platform X on Sunday, Schiff criticized the possible use of public funds to buy Bitcoin.

While acknowledging private investments as personal choices, Schiff argued that government purchases of Bitcoin misallocate resources, harming productive sectors. He sees Bitcoin as a greater concern for the U.S. than a competitor to gold.

"The threat is that the government squanders the public’s money buying it," Schiff wrote, ...

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