Influential economist Peter Schiff expressed skepticism about the surge in Bitcoin’s (CRYPTO: BTC) value, attributing it to misplaced expectations of a potential Donald Trump administration’s support for the cryptocurrency.
What Happened: Schiff shared his thoughts on Bitcoin’s latest rally on his YouTube channel. He noted that the price increase was part of the “Trump trade,” as many in the cryptocurrency community believe that a Trump victory would be bullish for Bitcoin.
“It’s not going to happen,” Schiff dismissed the narrative. “He’s [Trump] made a lot of promises and I’ve gone over some of those promises on the podcast. But one of the promises he did not make was to buy any Bitcoin.”
Schiff reminded his viewers …
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