After Donald Trump's “strategic Bitcoin reserve” promise over the weekend, the US government's $2 billion Bitcoin transfer is receiving criticism from the cryptocurrency industry.
First, Mike Novogratz, the founder of Galaxy Digital, criticized the Harris government and said, “Are you deaf? Transferring Silk Road Bitcoins two days after Donald Trump's promise not to move Bitcoins is, in my opinion, completely stupid.”
Apart from Mike Novogratz, Bitcoin Magazine CEO David Bailey, one of the organizers of the Bitcoin Conference, also criticized the government.
“I saw the Harris administration getting ready to throw away 30,000 Bitcoins just to get mad at DJT. It would be a huge political mistake for the Democrats. They will permanently lose a generation of voters if they continue to plunder America's Bitcoin,” Bailey said. said.
Apart from Novogratz and Bailey, many names criticized the US's BTC transfer.
USA Will Sell All Bitcoins!
Apart from these names, Peter Schiff interpreted the US government's Bitcoin transfer from a different perspective.
Bitcoin opponent Peter Schiff has warned that the US Government under Joe Biden will sell all its BTC holdings to prevent Trump from using Bitcoin as a strategic reserve.
Schiff also claimed that if Trump had truly intended to create a reserve for Bitcoin, he should have kept his plan secret until after he took office. According to Schiff, Trump's main goal is not to create a “strategic Bitcoin reserve.”
“If Trump truly intended to use seized Bitcoins to launch the US's Bitcoin strategic reserve, he would have kept his intentions secret until he actually took office.
“Now that the Biden administration has made its plan wisely, they will sell all Bitcoins before Trump takes office.”
If #Trump really intended to use seized #Bitcoin to start a U.S. "strategic" reserve, he'd have kept his intention a secret until he was actually in office. Now that the #Biden administration is wise to his plan, they'll make sure to sell every Satoshi before Trump takes office.
— Peter Schiff (@PeterSchiff) July 29, 2024
*This is not investment advice.
