Schiff: Bitcoin Reserve Would Be 'Ultimate' Taxpayer Boondoggle
Main Idea
Peter Schiff criticizes the idea of a U.S. Bitcoin reserve, calling it a taxpayer boondoggle, while the likelihood of such a reserve being implemented remains low.
Key Points
1. Peter Schiff describes a Bitcoin reserve as 'the ultimate taxpayer boondoggle,' arguing it would be detrimental to American taxpayers.
2. The U.S. government announced a strategic Bitcoin reserve in March, but it will initially include only a minimal amount.
3. Polymarket bettors estimate only a 21% chance of the U.S. holding non-confiscated Bitcoin in its reserves.
4. Schiff previously stated that the U.S. government would not be purchasing Bitcoin for reserves.
5. The White House released a 166-page cryptocurrency report, but it did not mention XRP.
Description
A Bitcoin strategic reserve would be the worst fear of the Founding Fathers, according to Peter Schiff
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