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![PeterSchiff Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::56562803.png) Peter Schiff [@PeterSchiff](/creator/twitter/PeterSchiff) on x 1.2M followers
Created: 2025-07-18 19:08:33 UTC

The main purpose of the "landmark" crypto bills is to cloak Bitcoin—nothing more than a decentralized Ponzi scheme—in the trappings of legitimacy. The industry is using them to hype Bitcoin and other cryptos so insiders can cash out at higher prices. It’s a legislative low point.


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**Related Topics**
[cryptos](/topic/cryptos)
[decentralized](/topic/decentralized)
[cloak](/topic/cloak)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)
[coins pow](/topic/coins-pow)

[Post Link](https://x.com/PeterSchiff/status/1946285983881662521)