Peter Schiff: America will not buy Bitcoin, and other countries will not either.

"The gold bug" and Bitcoin critic Peter Schiff have predicted that the American government will not buy Bitcoin. "America will not buy any Bitcoin, and neither will other countries. The leaders are not stupid enough to do that," Schiff commented.

Although America has established a strategic reserve fund for Bitcoin since early March, the reality shows that this fund only focuses on storing seized coins, rather than buying more from the market. Treasury Secretary Scott Bessent stated that the government may consider the possibility of purchasing more Bitcoin in the future, but for now, the top priority is to stop selling the tokens currently held.

Currently, the likelihood of America establishing a national Bitcoin reserve fund by 2025 is only 51%. The market's speculation about this possibility has recorded a trading volume of up to 2.5 million USD, and it will only conclude with a "Yes" result if the U.S. government purchases additional Bitcoin beyond what has already been seized.

According to Bloomberg's previous estimates, the probability that the US government actually buys BTC this year is only about 30%. If that happens, the transaction could be funded through the (Exchange Stabilization Fund – ESF).

Meanwhile, the race to build strategic Bitcoin reserve funds is heating up at the state level, with Arizona seemingly pulling ahead of its competitors.

Peter Schiff has long criticized the initiative to establish a Bitcoin reserve fund, arguing that this idea is ridiculous and unlikely to spark a new "arms race" with China. Nevertheless, he still retains his meager amount of Bitcoin – which is a donation from the community – as an example of "what you shouldn't do."

You can see the BTC price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making any decisions. We are not responsible for your investment decisions.

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