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Biggest Bitcoin Critic Peter Schiff Reveals April Fools’ Day Prank

Peter Schiff, a well-known critic of Bitcoin, has recently taken to Twitter to slam the US government’s recent decision to create a Strategic Bitcoin Reserve. However, what may seem like a typical rant from the outspoken investor and economist, was actually a clever April Fool’s Day prank.

Schiff took a dig at U.S. policy regarding the Strategic Bitcoin Reserve, which was implemented previously this year. As a reminder, the US government said that it will form a reserve of cryptocurrency with a strict rule of not selling any, but also not buying it.

Based on his own experiment, Schiff stated that the lack of donations flowing into his reserve showed how difficult it is to accumulate Bitcoin in a budget-neutral way at no incremental cost. He concluded that the government’s new initiative was destined for failure, as the US does not plan to buy any BTC itself.

Schiff’s tweet sparked a flurry of reactions on social media, with many users initially taking his criticism at face value before realizing it was an April Fool’s joke.

Source: https://u.today/biggest-bitcoin-critic-peter-schiff-reveals-april-fools-day-prank