Peter Schiff Responds To Trump’s BTC Plans, Speculates US Government To Sell All BTC
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In a recent development, Peter Schiff, a Gold bug and a staunch Bitcoin critic, has taken to X to share his views on a statement made by the pro-crypto Donald Trump in his recent speech at the Bitcoin conference.
Trump To Keep 100% Of The BTC Held If Elected
Trump had said, “If I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future.”
Peter Schiff soon shared his views that If Trump really intended to use the seized Bitcoin to start a U.S. ‘strategic’ reserve, he would have kept his intention a secret until he was actually in office. He further added that now that the Biden administration is wise to his plan, they’ll make sure to sell every satoshi before Trump takes office.
Notably, the Republican Presidential nominee in his speech at Nashville, also underscored that ‘Bitcoin stands for freedom, sovereignty, and independence from government, coercion, and control.’ He said that the SEC Chair Gary Gensler would be fired ‘on day one’ if he is elected the President of the United States. Trump promised the attendees a new SEC Chair and an end to the anti-crypto stance of the Biden-Harris government.
US DOJ Moves BTC Intensifying The Speculation
The U.S. Department of Justice (DOJ) transferred 29,799.99 BTC worth $2 billion to an unknown Pay-to-Witness-Public-Key-Hash (P2WPKH) wallet on Monday. Despite this transfer, the U.S. government wallet still holds 183,439 BTC, valued at over $12 billion, according to Arkham Intelligence data.
This transfer of $2 billion in BTC by the U.S. government on Monday has further intensified this speculation. However, Bloomberg analyst James Seyffart has suggested that the Bitcoin transfer might be related to a deal between the U.S. Marshals Service and Coinbase. This adds another layer to the ongoing discussion.
Following this $2 billion transfer, Arkham Intelligence reported that the funds were divided into two Bech32 bitcoin addresses: one with 10,000 BTC and the other with 19,799.99 BTC. The firm speculated that the 10,000 BTC may have been sent to an institutional custody service.
