Peter Schiff Calls for Bitcoin Donations to Fund His “Bitcoin Strategic Reserve” on His 62nd Birthday
Peter Schiff, a well-known economic commentator who has long been critical of Bitcoin, publicly announced on his 62nd birthday that he would not accept traditional birthday gifts. Instead, he chose to ironically call for Bitcoin donations to fund his self-created “Bitcoin Strategic Reserve.”
Ironically Criticizing U.S. Bitcoin Strategic Reserve, Calling Himself a “True HODLer”
Schiff recently posted on X that he had moved his Bitcoin from an exchange to a cold wallet in a fiscally neutral manner to establish a Bitcoin reserve, stating that he would not personally purchase more Bitcoin to increase the reserve. Inspired by the U.S. government’s recent proposal for a “Bitcoin Strategic Reserve,” Schiff has established this reserve as a satirical contrast.
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
As of now, his “strategic reserve” has raised over $4,500, mostly from small Bitcoin donations. Despite his long-standing skepticism and criticism of Bitcoin, Schiff claims that this time he is “seriously coexisting with it as a HODLer.”
Continued Support for the Gold Standard, Criticizing Government Resource Misallocation
Previously, Schiff has repeatedly opposed any form of cryptocurrency strategic reserves, including those proposed by the Trump administration. He firmly believes that reserves should be strengthened with tangible assets such as gold or oil, rather than virtual assets. On March 7, he posted:
A nation investing more funds in cryptocurrencies is essentially reducing its capital investment in the production of physical goods and real wealth creation. Encouraging or subsidizing this waste of resources is one of the worst decisions made by governments.
Additionally, Schiff has criticized the close relationship between the U.S. government and the cryptocurrency industry, specifically pointing out the involvement of the Trump family in crypto projects. He even called the recent White House cryptocurrency summit a “national disgrace.”
Contradiction and Irony in the Donation Campaign
Now, in response to online criticism about his “wavering gold-bullish stance” and “starting to beg for Bitcoin,” Schiff replied:
This is not a personal donation to me; it is for the strategic reserve, and there are no plans to sell these Bitcoins.
When someone jokingly said, “Selling gold to buy Bitcoin is the real fiscal neutrality,” Schiff retorted:
No, I have to exchange gold for Bitcoin. Gold is money, while Bitcoin is just a digital collectible, and it’s not rare.
Although this action may seem contrary to his past position, Schiff emphasized that it is a “critical participation,” aiming to satirize the government’s misallocation of resources through the establishment of his “Strategic Bitcoin Reserve.” Whether or not he genuinely embraces Bitcoin, his actions have certainly sparked considerable discussion and attention within the crypto community.
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