The president of Euro Pacific Capital, an economist and a well-known crypto-skeptic, proposed creating the USAcoin cryptocurrency, replacing Bitcoin as the currency of the US strategic reserve with this asset.
Peter Shiff explained that the token he invented should have a supply limited to 21 million coins, like the first cryptocurrency, and a blockchain capable of scaling:
According to the economist, US authorities will be able to save a lot of money and use it to solve social problems. Giving Bitcoin the status of a reserve asset will undermine confidence in the existing financial system based on the dollar, the expert believes.
Previously, Peter Schiff criticized the administration of US President-elect Donald Trump for supporting Bitcoin, saying that it was weakening the United States economy.
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Source: Cryptocurrency
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