Renowned economist Peter Schiff criticized Senator Cynthia Lummis‘ (R-Wyo.) proposed legislation to establish a U.S. Bitcoin (CRYPTO: BTC) reserve, arguing that it would lead to inflation. What Happened: On Monday, Schiff explained his point of view regarding the bill proposed by Lummis. The legislation aims to establish a U.S. strategic Bitcoin reserve by purchasing 1 million Bitcoin and holding it for 20 years. Schiff argues that the bill would necessitate the Federal Reserve to print more money to fund the purchase, leading to inflation. “The Senator’s plan is to create inflation to buy Bit…
