Peter Schiff: "Resolving US Debt with Bitcoin is Impossible"

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Summary

Peter Schiff expressed a negative view on the possibility of resolving US debt through Bitcoin.
He explained that even if the US buys 1 million BTC, Bitcoin's market cap would need to reach $761 trillion.
This is unrealistic, and by that time, the US debt would have increased, making it impossible to resolve.

Bitcoin critic and economist Peter Schiff expressed a negative stance on resolving US debt with Bitcoin.

On the 13th (local time), Peter Schiff stated on X, "Bitcoin bulls claim that if the US buys 1 million BTC, it could eventually pay off the US debt with Bitcoin," adding, "For 1 million BTC to pay off the US debt ($36.25 trillion), Bitcoin's market cap would need to reach $761 trillion." He continued, "This is six times the global GDP," and noted, "By then, the US debt would have increased significantly, making it impossible to pay off."

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