Well-known economist Peter Schiff said on Wednesday that the government’s decision to create a Bitcoin (CRYPTO: BTC) strategic reserve would end up damaging the U.S. dollar while benefiting gold.

President Donald Trump pulled what Peter Schiff is calling “the biggest crypto rug pull of all time.” Schiff, who is a longtime gold lover and crypto hater, took to X (formerly Twitter) on Tuesday to accuse Trump of orchestrating a pump-and-dump scheme with his announcement of a US strategic crypto reserve.

Economist Peter Schiff calls Bitcoin Pumpers fraud alleging that he hasn't supported a strategic US BTC reserve.