Peter Schiff Says Trump Family’s ‘Vague’ Crypto Announcement Led To Bitcoin Rally, Gets Slammed By Critics: ‘Make Serious Arguments’

Peter Schiff Says Trump Family’s ‘Vague’ Crypto Announcement Led to Bitcoin Rally, Slammed by Critics: ‘Make Serious Arguments’

Renowned economist Peter Schiff attributed Bitcoin’s (CRYPTO:BTC) recovery rally to former President Donald Trump’s sons making an “unclear” crypto announcement. He advised his followers to sell the top cryptocurrency in the bullish move.

What Happened: On Thursday, Schiff went to X to comment on recent market trends. He noted that there was a significant recovery in assets that were damaged during Monday’s sell-off, and that Bitcoin was making an even bigger jump.

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Schiff attributed King Crypto’s rise to a potential boost from the Trump sons’ vague promise of a major pro-cryptocurrency announcement. He concluded the post by advising to “sell Bitcoin into the rally,” in stark contrast to the HODL narrative pushed by maximalists.

All financial assets that have been in decline recently rose today. #Bitcoin is joining the rally with a larger move. Bitcoin may have received an additional boost from an uncertain commitment. #Embers sons of a great pro-#crypto announcement is imminent. Sell Bitcoin on the rise.

— Peter Schiff (@PeterSchiff) August 8, 2024

See also: According to Cathie Wood, holding 6 Ethereum (ETH) can make you a millionaire, here are the tips on why that might be true.

His observations were not well received by Bitcoin supporters, with one user named Brooklyn saying, “BTC didn’t rise because of Trump’s sons. Come on Peter, at least give serious arguments.”

Why It Matters: Schiff’s post comes after Bitcoin surged on Thursday, recouping losses from Monday’s free fall.

Mysterious social media posts from Donald Trump Jr. and Eric Trump have been the subject of speculation in the cryptocurrency space. The two have hinted at a major announcement related to cryptocurrency and decentralized finance (DeFi).

However, the family warned against falling victim to fake tokens and stated that an official statement would come directly from them.

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Peter Schiff Says Trump Family’s ‘Vague’ Crypto Announcement Led to Bitcoin Rally, Slammed by Critics: ‘Make Serious Arguments’ This article originally appeared on Benzinga.com