Bitcoin Conf. Talk ‘Reality Check’ Like Pre Housing Crash

BTC critic Peter Schiff criticized Donald Trump for pressuring Jerome Powell to cut rates.
Schiff plans to warn the crypto crowd that the “party is over” at an upcoming conference.
Trump is exploring ways to buy Bitcoin using tariff revenues and revalued gold certificates.

Bitcoin critic and well-known gold advocate Peter Schiff slammed US President Donald Trump’s handling of tariffs, arguing that US consumers, not foreign producers, are footing the bill through higher prices.

According to him, the supposed “revenue” from tariffs benefits only the US government, not the average American.

With respect to tariffs, Trump keeps saying how much we are getting: what we are getting on cars, and what we are getting on steel. But by “we,” he means the U.S. Govt. Buyers of cars and steel aren’t getting anything but higher-priced cars and steel. They are paying the tariffs.
— Peter Schiff (@PeterSchiff) April 17, 2025

Schiff also revealed that he would be speaking at a major Bitcoin conference in May to deliver what he calls a ‘reality check,’ echoing his warnings at the 2006 Mortgage Bankers conference before the housing crash.

It is clear that Bitcoin is once again caught in the storm of United States economic policy, political pressure, and global trade tensions. Currently trading at $84,645.04, the digital asset is up 5% in the past week, CoinMarketCap data shows.

Related: Did the Fed Just Crush Crypto and Stocks’ Recovery Hopes?

Could Tariff Money Fund US Bitcoin Buys?

Interestingly, this same controversial tariff revenue might now fund one of the boldest shifts in US fiscal strategy: accumulating Bitcoin.

Bo Hines, the Executive Director of the Presidential Council of Advisors on Digital Assets, confirmed the Trump administration is exploring using tariff revenues and revalued gold certificates to fund a Strategic Bitcoin Reserve (SBR).

In line with Trump’s promise not to raise taxes, officials are looking for “budget-neutral” ways to accumulate BTC, potentially making the US a leader in digital assets without burdening taxpayers.

Revaluing old government-held gold certificates, currently priced at just $43/oz, could unleash billions if pegged closer to gold’s market price of over $3,000/oz.

Matthew Pines of the Bitcoin Policy Institute stated: “If Donald Trump wants to make good on his promise to be a Bitcoin superpower, that ultimately comes down to how much bitcoin you have.”

Political Tensions Simmer Over Policy

This pro-Bitcoin strategy plays out against existing tensions. Trump has publicly pressured Federal Reserve Chair Jerome Powell to cut interest rates, a move the crypto community largely supports.

Trump accused Powell of playing politics by refusing to cut interest rates. But if he was playing politics, cutting rates is exactly what he would do. Political pressure on central banks is always for lower rates. Central banks are independent precisely to resist that pressure.
— Peter Schiff (@PeterSchiff) April 17, 2025

The expectation was that Trump’s recent tariffs, some as high as 145% on Chinese imports, would lead to economic drag and force the Fed’s hand into lowering rates. But Powell has refused to budge, warning that such steep tariffs could lead to stagflation—a mix of rising prices and stagnating growth.

Related: Tariff Tensions Rise as Trump Personally Enters Negotiations with Japan

Despite Powell’s warnings and the Fed’s independence, Trump continues to hammer him in the media, even calling him “Too Late Jerome.”

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Source: https://coinedition.com/schiff-to-give-bitcoin-conference-reality-check-similar-to-2006-warning/