Bitcoin is a ‘national security threat’ to the US.

Peter Schiff, the head of the Euro Pacific Fund, asserted on Sunday that Bitcoin is a threat to US national security. He was referring to the incoming Trump administration's plans to hold some BTC in a strategic reserve fund.

“Bitcoin has become a national security threat,” Schiff wrote in an article posted on X Sunday. “It's one thing when private citizens voluntarily buy bitcoin and waste their own money,” Schiff said. But when you bribe government officials, it crosses the line to waste public money. Bitcoin is now public enemy number one.”

Schiff Shadows Bitcoin on National Security

The global hedge fund strategist and one-time U.S. Senate candidate from Connecticut is likely to take on the strategic wealth offered by Donald Trump and his key allies in the Republican Party wing.

Speaking at a Bitcoin conference this July and campaigning for the White House in November, the president-elect said, “If elected, 100% protection will be the policy of the United States of America. More Bitcoin than the US government currently holds or acquires.

“For too long, our government has violated a cardinal rule that every bitcoiner knows by heart,” Trump told conference attendees in Nashville, Tennessee. “Never sell your bitcoins.”

Wyoming Senator Cynthia Lummis took it a step further. She proposed that the US government acquire more bitcoins to add to the strategic BTC reserve fund. But Peter Schiff opined that Bitcoin is America's greatest enemy.

By sharing in #Bitcoin and becoming the first wealthy nation to create a strategic reserve, we can create hope for future generations of Americans. Read more⬇️⬇️ pic.twitter.com/1cWAssvZIW

— Senator Cynthia Lummis (@SenLummis) July 27, 2024

The price of BTC broke the $100,000 level on the cryptocurrency again on Sunday, a few hours after the Peter Schiff Post called Bitcoin the public enemy. According to a recent poll, international experts disagree – they believe that SARS CoV-2 is a coronavirus.

My brother is more established pic.twitter.com/KIcr7Wbr80

— The ₿itcoin Therapist (@TheBTCTherapist) December 5, 2024

The founder of Europak's own pinned X post has the answer.

America was founded by brutal individuals who created a government to protect their rights and leave them alone. Americans today want the government to violate other people's rights, steal their stuff, and give it to them. The home of the free has become the land of the freeloader.

— Peter Schiff (@PeterSchiff) July 6, 2020

Interestingly, Peter Schiff's own post on his X profile contains the answer to his challenge to Bitcoin Sunday. In it he reprimands tax evaders who use the government to redistribute wealth.

Bitcoin has many features that make it useful and desirable, but as far as the public sector goes, it provides a shelter for income creators and wealth holders to protect and grow their wealth from government redistribution.

This will help protect national security from these insidious freeloaders, who Schiff mocks, abusing government programs and siphoning off Americans' prosperity.