Peter Schiff to Grow Bitcoin Reserve on Public Donations

Published 01/04/2025, 23:00
Updated 02/04/2025, 07:15
© Reuters.  Peter Schiff to Grow Bitcoin Reserve on Public Donations

U.Today - Bitcoin critic Peter Schiff has shown interest in building his strategic BTC reserve as he seeks support from the public to grow the reserve via a post on X today. The post received sarcastic reactions from commenters.

Peter Schiff is looking to grow his Bitcoin reserve after showing concerns that the total worth of Bitcoin in his entire strategic Bitcoin reserve is still under $5000.

Schiff revealed that his Bitcoin reserve, which was inspired by the U.S. government’s approach to acquiring assets without additional costs, has been solely built on donation since it was created.

Following his post, Schiff dropped the wallet address to his Bitcoin reserve, offering to match every Bitcoin donation he receives today, thereby doubling the donations received from supporters.

While Schiff’s initial decision to own a Bitcoin reserve came as a surprise to the public, his interest to grow the reserve has further sparked more buzz, triggering questions as to Schiff’s stance on the leading crypto asset.

Although Schiff revealed that he has never spent his money on acquiring Bitcoin all his life, his latest move to build the Bitcoin reserve appears sarcastic but turns different from his regular jabs at crypto, suggesting that the Bitcoin critic is slowly getting interested in Bitcoin’s potentials. However, the post has triggered mockful comments from X users.

One of the comments suggested Schiff is demanding for Bitcoin donations because of the asset’s decentralized nature which supports digital transfers as gold bars can only be received physically.

Other commenters were seen throwing jabs at Schiff for his advocacy for Golds over Bitcoin as they demand that he send his Gold address instead.

As reported by U.Today, the Bitcoin critic’s iteration of a Bitcoin reserve which only received a few donations in Bitcoin but most of the donations were made in SOL.

This content was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.