Peter Schiff Slams Trump’s Crypto Bills, Calls Bitcoin a “Ponzi Scheme”

Gold advocate and long-time crypto critic Peter Schiff has taken aim at the U.S. government’s latest pro-crypto move, calling the newly signed GENIUS Act, CLARITY Act, and anti-CBDC bill a “legislative low point.”

While the crypto community, including Ripple CEO Brad Garlinghouse, cheered the passing of these bills as a historic win for digital assets, Schiff warned that they may actually weaken the U.S. dollar and boost what he calls a “decentralized Ponzi scheme” in Bitcoin.