Peter Schiff Says Trump Family's 'Vague' Crypto Announcement Led To Bitcoin Rally, Gets Slammed By Critics: 'Make Serious Arguments'
Renowned economist
Peter Schiff
linked
Bitcoin’s
(CRYPTO:
BTC
) recovery rally to former President
Donald Trump’s
sons making a “vague” cryptocurrency announcement. He suggested his followers sell the apex cryptocurrency on this upward move.
What Happened
: On Thursday, Schiff took to X to comment on the recent market trends. He noted a significant recovery in assets that suffered during Monday’s sell-offs, with Bitcoin making an even larger leap.
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Schiff attributed King Crypto’s surge to a potential boost from the Trump sons’ vague promise of a major pro-cryptocurrency announcement. He ended the post by advising to “sell Bitcoin into the rally,” in stark contrast to the HODL narrative pushed by maximalists.
Financial assets that declined recently all rose today, with
#Bitcoin
joining the rally with an even bigger move up. Bitcoin may have received an added boost from a vague commitment by the
#Trump
sons that a major pro-
#crypto
announcement is imminent. Sell Bitcoin into the rally.
— Peter Schiff (@PeterSchiff)
August 8, 2024
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here’s why it can be true
.
His observations were not well received by Bitcoin supporters, with one user,
Brooklyn
, saying, “BTC did not rise because of the Trump sons. Come on Peter, at least make serious arguments.”
Why It Matters
: Schiff’s post came after
Bitcoin rallied sharply Thursday,
erasing losses from Monday’s free fall.
Cryptic social posts by
Donald Trump Jr.
and
Eric Trump
have been a topic of speculation in the cryptocurrency space. The two have dropped hints about a significant announcement related to cryptocurrency and decentralized finance (DeFi).
However, the family
cautioned against falling victim to fake tokens
, and stated that any official announcement would come directly from them.
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Peter Schiff Says Trump Family's 'Vague' Crypto Announcement Led To Bitcoin Rally, Gets Slammed By Critics: 'Make Serious Arguments'
originally appeared on
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