Longtime digital asset critic Peter Schiff has publicly acknowledged Bitcoin (BTC) as digital gold. The economist decided to recognize this after the announcement by U.S. President Donald Trump of a preliminary national cryptocurrency reserve.
"I understand the logic of a reserve in bitcoins. I do not agree with it, but I understand. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let's create a reserve in bitcoins," wrote Schiff on X.
However, Schiff emphasized that his statements should not be taken as support for government subsidization of digital assets. He noted that an official reserve in cryptocurrency is an impractical idea. He also expressed doubts about including XRP, SOL, and ADA in this reserve. Schiff also criticized government intervention in the market. The market itself should choose winners and losers.
