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Peter Schiff contrasted the approaches of the United States and China regarding Bitcoin., 2026/02/05 12:30:44
President of Euro Pacific Capital and cryptocurrency skeptic Peter Schiff stated that, unlike the United States, China is investing its resources not in Bitcoin purchases but in building factories and acquiring gold.
According to Schiff, US authorities are misallocating capital and resources by focusing on Bitcoin and cryptocurrencies instead of enhancing domestic industry and strategic reserves.
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“Trump claimed he believes in cryptocurrencies and aims to make the US the ‘Bitcoin capital of the world,’ asserting that if the United States does not take this step, China will. While we are expending capital and resources and harming the economy, they are constructing factories and accumulating gold,” the economist remarked.
He believes that China is adopting a more pragmatic approach by concentrating on tangible assets and manufacturing, which renders the country’s strategy more sustainable in the long run.
He also pointed out that in the current economic climate, American investors should consider diversifying their portfolios to include real assets and precious metals, rather than overly focusing on volatile digital currencies.
Previously, Peter Schiff urged Bitcoin investors to reassess the viability of investing in cryptocurrency in light of the rising prices of gold and silver.
