Bitcoin is a “national security threat” to the US

The head of Euro Pacific Funds, Peter Schiff, claimed on Sunday that Bitcoin is a threat to the national security of the United States. He was referring to the incoming Trump administration’s plans to hold some BTC in a strategic reserve fund.

“Bitcoin has become a national security threat,” Schiff wrote in a post on Sunday X. “It’s one thing when private citizens willfully waste their own money buying Bitcoin,” Schiff said. “But the line is crossed when they bribe government officials to waste public money by buying it. Bitcoin is now public enemy number one.”

Schiff Shades Bitcoin Over National Security

The global hedge fund strategist and US Senate candidate from Connecticut was likely referring to the strategic asset reserve for cryptocurrencies proposed by Donald Trump and key allies in his wing of the Republican Party.

While speaking at the Bitcoin Conference this July and campaigning for re-election to the White House in November, the president-elect said: “If I am elected, it will be the policy of my administration, the United States of America , hold 100% of all bitcoin that the US government currently owns or acquires in the future.”

“For too long our government has violated the cardinal rule that every bitcoiner knows by heart,” Trump told conference attendees in Nashville, Tennessee. “Never sell your bitcoin.”

Wyoming Senator Cynthia Lummis has taken it a step further. He has proposed that the US government acquire more Bitcoin to add to a strategic BTC reserve fund. But Peter Schiff thinks Bitcoin is America’s worst enemy.

We can create a brighter future for generations of Americans by diversifying #Bitcoin and be the first developed nation to create a strategic reserve. Read more ⬇️⬇️ pic.twitter.com/1cWAssvZIW

— Senator Cynthia Lummis (@SenLummis) July 27, 2024

Cryptocurrency BTC spot prices broke the $100,000 level again on Sunday, hours after Peter Schiff’s post called Bitcoin the public’s worst enemy. A recent survey found that international experts disagree: They believe that the SARS CoV-2 coronavirus is.

face more difficult bro pic.twitter.com/KIcr7Wbr80

— The ₿itcoin Therapist (@TheBTCCTherapist) December 5, 2024

EuroPac Founder’s X-pinned post has the answer

America was founded by tough individuals who created a government to secure their rights and leave them alone. Americans today want the government to violate other people’s rights, steal their stuff, and give it to them. The home of the free has become the land of the freeloader.

— Peter Schiff (@PeterSchiff) July 6, 2020

Ironically, Peter Schiff’s pinned post on his X profile contains the answer to his Bitcoin Sunday challenge. In it, he reprimands the fiscal pirates who use the government for the redistribution of wealth.

Bitcoin has a number of features that make it useful and desirable, but in terms of the public sector, it provides a haven for income earners and wealth owners to protect their wealth from government redistribution and even make – grow it

This helps protect national security against these insidious freeloaders who Schiff ridicules for denying Americans prosperity from within by misusing government programs.

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