Economist Peter Schiff criticizes Trump's push for US dominance in crypto against China, arguing China's focus on industries like factories and gold, not Bitcoin.
Economist Peter Schiff expressed skepticism about President Donald Trump's goal of positioning the U.S. as the global hub of Bitcoin. Schiff argued that China is unconcerned about the leading cryptocurrency, emphasizing that Chinese leaders prioritize investments in manufacturing and gold over Bitcoin. Contrary to Trump's stance that the U.S. must dominate cryptocurrency to outpace China, Schiff contended that Chinese leadership is more focused on tangible assets. Trump's belief in the potential of cryptocurrency is driving his push to establish the U.S. as the center of Bitcoin to prevent China from taking the lead. Schiff's critique of Trump's strategy and China's indifference to Bitcoin is detailed on Benzinga.com.
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