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U.Today - Probably the biggest Bitcoin (BTC) and cryptocurrency skeptic, the most vocal is for sure Peter Schiff, provided an update to his April Fools’ Day request for BTC donations. As it turns out, the financial expert was just pranking, or even conducting an experiment, to be exact.
For those not aware, yesterday, April 1, Peter Schiff said that he will match all the funds incoming to his own Bitcoin reserve. This statement was made with respect to the fact that the crypto skeptic never purchased any Bitcoin himself, according to his own words.
As a result, however, Schiff received just about $45 in BTC from four people only. Was it a strategy to somehow cover up the failure of the campaign or indeed a joke? Schiff said that the whole initiative was just an "April Fool’s prank." Those few who donated to his Bitcoin reserve "were fooled."
Schiff took a dig at U.S. policy regarding the Strategic Bitcoin Reserve, which was implemented previously this year. As a reminder, the U.S. government said that it will form a reserve of cryptocurrency with a strict rule of not selling any, but also not buying it.
Based on his own experiment, Schiff stated that the lack of donations flowing into his reserve showed how difficult it is to accumulate Bitcoin in a budget-neutral way at no incremental cost. Thus, for him, the government’s new initiative is destined for failure, as the U.S. does not plan to buy any BTC itself.
If the final thesis is far-fetched, or Peter Schiff has some wisdom in his words, remains open for speculation.