Odaily News Peter Schiff, a well-known economist and gold supporter, posted on the social platform X, criticizing the Trump administration's policy of supporting Bitcoin. Schiff said: "When the government picks winners and losers, it usually chooses losers. Because the Trump administration has chosen Bitcoin, Wall Street is misallocating capital to Bitcoin and related value-destroying companies." In response to Senator Lummis's suggestion that the Federal Reserve sell gold reserves to buy Bitcoin, Schiff warned: "If the United States makes a big mistake by selling gold to buy Bitcoin, you should buy gold, and if you hold Bitcoin, sell it to the US government." He also criticized MicroStrategy Executive Chairman Michael Saylor's Bitcoin investment strategy as a "Ponzi scheme," claiming that the company could collapse if it was forced to sell Bitcoin. (bitcoin.com)