Peter Schiff Celebrates 62nd Birthday by Establishing Bitcoin Reserve, Accumulates ~$4760 in Donations

Peter Schiff, the president of Euro Pacific Asset Management and a well-known critic of cryptocurrencies, announced on his 62nd birthday that he would be accepting Bitcoin as gifts for his personal digital asset reserve.

«For transparency’s sake, I have transferred my strategic BTC reserve from the exchange to a hardware wallet. Today, I turn 62, and instead of gifts, I’m accepting Bitcoin to establish a fund in a budget-neutral way, just like the U.S. government,” Schiff stated.

At the time of writing, donations had pushed the amount on the wallet address published by Schiff to 0.053 BTC (approximately $4760). Among those contributing to the Bitcoin skeptic’s wallet was Ouriel Ohayon, co-founder of Zengo Wallet.

In early March, then-President Donald Trump directed 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, calling for an investigation. He viewed Trump’s decision as part of a Pump & Dump scheme aimed at helping his «family and friends make millions.» The entrepreneur noted that such actions would be deemed illegal if they involved stocks, yet they appear to be considered legal in the realm of digital assets.

«This might be part of the reason why Trump made a complete 180-degree turn to become the ‘crypto president,'» Schiff remarked.

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

In a post that clearly referenced Trump’s directive regarding the formation of a national crypto fund from assets seized by the Treasury in criminal and civil cases, he wrote: «Like the U.S. government, I am developing a budget-neutral strategy to acquire my Bitcoins without incurring additional costs.»

Consistently predicting the downfall of the first cryptocurrency, Schiff ironically specified that as a «true hodler,» he intends to hold onto his assets until the end.

He later announced that he had ordered a Trezor hardware wallet to ensure the «maximum transparency» of his crypto reserve.

It’s worth noting that experts generally assessed Trump’s crypto initiative positively. However, contrary to expectations, authorities in several countries, including Switzerland, Japan, and South Korea, rejected the idea of following the U.S. example.