Peter Schiff is back with sharp criticism of both Bitcoin and President Donald Trump's latest economic policies.

On Monday, Schiff said the newly formed Strategic Bitcoin Reserve has already lost more than 12% of its value since it was created on March 6.

Economist and gold advocate Peter Schiff is known for his blunt commentary on current events, and recently, he had strong words for both Bitcoin and President Donald Trump's latest economic policies.

On Monday, Schiff pointed out the significant loss incurred by the Strategic Bitcoin Reserve, which was created on March 6 with the aim of holding and managing Bitcoin on behalf of the U.S. government. According to his calculations, the reserve has already lost more than 12% of its value. In contrast, if the government had chosen to invest in gold during this period, the reserve would be showing a 2% gain.

"A month ago on Mar. 6th, Trump established the Strategic Bitcoin Reserve," Schiff stated on X. "So far, the value of the Bitcoin held in that reserve has declined by over 12%. Had the U.S. sold it and added to our gold reserve, not only would we have avoided that loss, but we would now have a 2% gain."

When a user questioned the trillions lost when the U.S. sold Bitcoin years ago, Schiff responded, "That’s irrelevant, as we didn't have a Strategic Bitcoin Reserve years ago. We can only count how much money the government gains or loses going forward of the reserve."

Last month, Schiff warned that the Strategic Bitcoin Reserve is being used to deceive investors into believing they can become rich quickly through Bitcoin.

"The crypto industry is using the Strategic Bitcoin Reserve to scam more Americans into buying crypto. Thanks to Trump, more Americans will lose more money in crypto than in any prior speculative mania in history." He cited the $TRUMP meme coin as a perfect example, noting that it had already lost over 80% of its value.

In another post, Schiff expressed his view that tariffs are an even worse idea than the Bitcoin reserve.

"Tariffs are worse. Doing nothing would be less harmful than what Trump is doing," Schiff stated.

He argued that the crypto market has been trending downward when measured in gold and warned that Ethereum could fall below $1,000, a level it last saw in June 2022. At the time of writing, the price of Ethereum stands at $1,463.

Despite pushback from crypto traders highlighting the technology and ecosystem growth over the past three-and-a-half years, Schiff maintains that Bitcoin has lost more than 30% of its value in gold terms.

"Those numbers are staggering. If the Strategic Bitcoin Reserve had been a Strategic Gold Reserve, the U.S. would have a 2% gain over the past month," he added.

Schiff also commented on how Trump's tariffs could affect major American brands. In a post last week, he explained why Nike wouldn't be shifting manufacturing back to the U.S. despite the steep new tariffs.

"Nike won't build factories in the U.S. to make sneakers. That would add more cost than the 40% tariffs. Plus, they need to stay competitive selling to customers in other countries that don't impose tariffs. The result will be fewer sneakers sold in the U.S. at much higher prices."

"Nike will eventually sell more sneakers to consumers in other countries, as they buy what Americans can no longer afford. As for making sneakers in the U.S., they would have to pay workers a higher minimum wage to perform the same tasks that lower-paid workers do in other countries."

Nike's stock dropped over 17% after Trump announced the new tariffs. Countries like Vietnam and Indonesia, where Nike makes a large portion of its products, were hit with tariff increases of up to 46%.

Schiff further noted that the increased costs and shrinking U.S. sales will force companies like Nike to look elsewhere for growth.

"The U.S. will consume less and become poorer. And the world will become less prosperous as trade and specialization decrease. It's a lose-lose all around. Only Trump will win—at least in the short term," he concluded.

As the markets continue to react to the administration's policies, Schiff's commentary offers a critical perspective on the economic decisions being made and their potential impact on the American people.output: Economist Peter Schiff, a vocal critic of Bitcoin and a staunch advocate for gold, took aim at President Donald Trump's latest economic policies, specifically highlighting the Strategic Bitcoin Reserve and new tariffs.

According to Schiff's calculations, the Strategic Bitcoin Reserve, which was created on March 6 with the goal of holding and managing Bitcoin on behalf of the U.S. government, has already lost more than 12% of its value. In contrast, if the government had chosen to invest in gold during this period, the reserve would be showing a 2% gain.

"A month ago on Mar. 6th, Trump established the Strategic Bitcoin Reserve. So