Renowned Bitcoin critic Peter Schiff has unveiled an upgraded design for his proposed cryptocurrency USAcoin. He urged President Donald Trump to create this cryptocurrency via an executive order and build a strategic reserve.
USAcoin Proposal
Peter Schiff proposed to President Trump on social media site X to create USAcoin through an executive order. He revealed a new design version and emphasized the importance of establishing a strategic reserve for financial stability.
Advantages Over Bitcoin
Schiff claims that USAcoin would be a more stable reserve currency compared to Bitcoin. He proposed a supply cap of 21 million coins, similar to Bitcoin, but with enhanced blockchain technology, making USAcoin suitable for payments.
Response to the Proposal
The new proposal garnered interest among the public. Quoting Schiff: "Bitcoin is for losers. USAcoin is for winners." His statement underscores an intention to position USAcoin as an attractive alternative to other cryptocurrencies.
Peter Schiff's proposal to create USAcoin has sparked discussion among analysts and the public, suggesting an alternative approach to managing US reserves with a national cryptocurrency.
