Trump’s Transition Reportedly Eyes Bitcoin Reserve, Schiff Fires Back at Fiscal Misstep

According to Reuters, President-elect Donald Trump’s incoming crypto advisory council is reportedly considering establishing a strategic bitcoin reserve.

Economist and gold bug Peter Schiff has shared his perspective on the concept of a bitcoin reserve following reports that Donald Trump’s incoming crypto advisory council is considering the idea.

According to Reuters, the council is discussing a range of topics, including whether the U.S. should create a strategic bitcoin reserve. The report comes amid increasing interest in cryptocurrencies from mainstream institutions and policymakers.

Economist Peter Schiff has criticized the concept of a U.S. bitcoin reserve.

“If the U.S. creates a bitcoin reserve, wasting billions of taxpayer dollars buying bitcoin, it will also misdirect capital away from the very industries the U.S. must develop in order to grow the economy, reduce its trade imbalance, shrink fiscal deficits, and lower inflation,” Schiff wrote on social media.

However, many people pushed back against Schiff's views in the comments section.

“Adding bitcoin to the balance sheet will strengthen the U.S. dollar and allow interest rates to go down without having to be stated or yield curve controlled down,” one person said on X.

Someone else chimed in with a witty remark, saying, “But the thesis is to sell gold and buy bitcoin. No taxpayer dollars.”

Another detractor of Schiff’s comment responded: “Get in loser we’re paying off $35T in national debt with a small fraction of a bitcoin.”

As bitcoin inches closer to the $100,000 milestone, Schiff's skepticism seems increasingly out of touch with the digital currency's growing role in global finance.

With rising institutional interest and mounting calls for strategic reserves, BTC's momentum suggests it could emerge as a powerful economic tool. Critics argue Schiff's dismissal of bitcoin risks ignoring its transformative potential.

While Schiff warns of misallocated resources, others see bitcoin as an opportunity to revolutionize economic policy and debt management. As conversations around BTC reserves gain traction, the divide between skeptics and proponents widens. However, with bitcoin's resilience and adoption accelerating, the argument that it could bolster fiscal stability seems more compelling than ever.