Peter Schiff Amasses ~$4760 in Personal Bitcoin Reserve

Peter Schiff, President of Euro Pacific Asset Management and a well-known critic of cryptocurrencies, announced on his 62nd birthday that he would accept Bitcoin as gifts to build his own digital asset reserve.

For transparency, I moved my Strategic Bitcoin Reserve from an exchange to a hardware wallet. Today is my 62nd birthday. To build my reserve in a budget-neutral way, just like the U.S. government, in lieu of gifts, I’m accepting Bitcoin.
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— Peter Schiff (@PeterSchiff) March 23, 2025

“For transparency, I moved my strategic BTC reserve from an exchange to a hardware wallet. Today is my 62nd birthday. To build the fund in a budget-neutral way, like the U.S. government, I am accepting Bitcoin instead of gifts,” Schiff wrote.

At the time of writing, donations had brought the amount on the entrepreneur’s address to 0.053 BTC (~$4760). Among those who contributed cryptocurrency to the Bitcoin skeptic’s wallet was Ouriel Ohayon, co-founder of Zengo Wallet.

Earlier in March, President Donald Trump ordered the creation of a national crypto reserve, which would include Bitcoin, Ethereum, as well as SOL, XRP, and ADA.

Schiff criticized the president’s initiative and called for an investigation. He considered Trump’s decision part of a Pump & Dump scheme aimed at “helping his family and friends make millions.” The entrepreneur noted that if such actions involved stocks, they would be deemed illegal, but in the realm of digital assets, they are somehow considered legal.

If President @realDonaldTrump used Truth Social to manipulate stocks to help his family and friends make millions, it would be illegal and he could be impeached. But with crypto it’s perfectly legal. That may be another reason he did a complete 180 to become the crypto president.

— Peter Schiff (@PeterSchiff) March 2, 2025

“That may be one of the reasons Trump did a complete 180 to become the crypto president,” Schiff wrote.

On March 8, he announced the creation of his own Bitcoin reserve.

I’ve decided to create my own Strategic Bitcoin Reserve. Just like the U.S. government, I’m developing a budget-neutral strategy for acquiring my bitcoin at no incremental cost. Phase one of my strategy is inviting contributions to my reserve.
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— Peter Schiff (@PeterSchiff) March 8, 2025

The entrepreneur posted with a clear reference to Trump’s order to form a national crypto fund from assets confiscated by the Treasury in criminal and civil cases:

“Like the U.S. government, I am developing a budget-neutral strategy for acquiring my bitcoins without additional costs.”

Schiff, who consistently predicts the downfall of the first cryptocurrency, ironically noted that as a “true hodler,” he would hold onto the assets until the end.

He then announced that he had ordered a Trezor hardware wallet for self-storage to ensure “maximum transparency” of his crypto reserve.

Experts generally viewed Trump’s crypto initiative positively. However, contrary to expectations, authorities in countries like Switzerland, Japan, and South Korea rejected the possibility of following the U.S. example.