Economist Peter Schiff says that President Donald Trump’s Bitcoin (CRYPTO: BTC)-centric policy contradicts his aim of correcting the U.S. trade imbalance with the world.
What Happened: In an X post on Saturday, Schiff wrote, “Trump’s goals of solving the problems leading to our huge trade deficits and making America a Bitcoin superpower are at odds with one another.”
Schiff asserted that “scarce” resources meant for increasing production were being diverted to cryptocurrency ventures, leaving the country reliant on imports and widening the trade deficit.
Trump’s goals of solving the problems leading to our huge trade deficits and making America a Bitcoin superpower are at odds with one another. The more of our scarce resource we divert to crypto, the more we depend on the rest of the world …Full story available on Benzinga.com
