{"id":144070,"date":"2024-12-06T09:30:00","date_gmt":"2024-12-06T07:30:00","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144070"},"modified":"2024-12-06T01:30:19","modified_gmt":"2024-12-05T23:30:19","slug":"bitcoin-could-threaten-u-s-dollar-stability-warn-economist","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-could-threaten-u-s-dollar-stability-warn-economist\/","title":{"rendered":"Bitcoin Could Threaten U.S. Dollar Stability, Warn Economist"},"content":{"rendered":"<p>He <strong><a href=\"https:\/\/x.com\/PeterSchiff\/status\/1864752591982280778\">believes<\/a> <\/strong>that government intervention, such as the U.S. purchasing <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>with newly printed dollars, could inflate the money supply and create an economic bubble, undermining confidence in the dollar. Schiff argues that Bitcoin\u2019s recent surge is driven more by political influence than market demand and fears that large-scale government adoption could weaken the dollar\u2019s position globally.<\/p>\n<p>In contrast, Federal Reserve Chair Jerome Powell views Bitcoin as more of a speculative asset, like gold, rather than a direct competitor to the dollar. He emphasized Bitcoin\u2019s role as an inflation hedge, similar to gold.<\/p>\n<p>Schiff also criticized former President Trump&#8217;s proposal for a national Bitcoin reserve, warning that buying large amounts of Bitcoin could divert focus from traditional assets like gold and destabilize the dollar. Schiff believes that selling U.S. gold reserves to fund Bitcoin purchases could lead to a financial crisis and weaken the dollar\u2019s global dominance.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/american-company-expands-treasury-strategy-by-adding-bitcoin-and-xrp\/\" title=\"American Company Expands Treasury Strategy by Adding Bitcoin and XRP\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/pexels-bitcoin-ai-generated-8677233_1280-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">American Company Expands Treasury Strategy by Adding Bitcoin and XRP<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Schiff\u2019s concerns are heightened by the growing push from BRICS nations to reduce reliance on the dollar. If successful, this could further erode confidence in the dollar, particularly if coupled with Trump\u2019s Bitcoin reserve plan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff, an economist known for his criticism of Bitcoin, recently warned that Bitcoin\u2019s rise could destabilize the U.S. dollar.<\/p>\n","protected":false},"author":9,"featured_media":103690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-144070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Could Threaten U.S. Dollar Stability, Warn Economist<\/title>\n<meta name=\"description\" content=\"Peter Schiff, an 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