As bitcoin breaks through $100,000, economist and gold advocate Peter Schiff has raised serious concerns about bitcoin and the U.S. economy. "The irony is that bitcoin could end up destroying the dollar - not because it displaces the dollar as the global reserve currency, but because the U.S. government could support bitcoin, print trillions of dollars to buy bitcoin, and fuel a bigger bubble that squanders the nation's wealth," Schiff posted on X this week. Mr. Schiff has been critical of the US government's fiscal policy, warning that such measures could exacerbate economic fragility. He added: "If the US builds up its bitcoin reserves and wastes billions of taxpayer dollars buying bitcoin, it will also divert capital away from industries that the US must develop to promote economic growth, reduce trade imbalances, shrink fiscal deficits and reduce inflation."