Peter Schiff Turns Heads with Strategic Bitcoin Reserve on 62nd Birthday

Peter Schiff, a long-time critic of Bitcoin, is making headlines for a surprising move—building his own Bitcoin (BTC) reserve. The 62-year-old gold advocate, known for his vocal skepticism of crypto, recently launched what he calls a “Strategic Bitcoin Reserve,” a project inspired by the U.S. government’s budget-neutral asset acquisition strategy.

In a birthday update, Schiff revealed he’s transferred his Bitcoin holdings from an exchange to a hardware wallet, a move he claims ensures transparency. He also opened the reserve to public contributions—not as personal gifts, but as a way to build the reserve without spending any money himself. He insists these contributions will never be sold or used, making it a unique and calculated initiative. Interestingly, Schiff is also accepting PaxGold (PAXG) and Tether Gold (XAUT), reinforcing his continued preference for gold-backed assets.

Currently, his Bitcoin reserve holds just 0.05 BTC (around $4,200), but the symbolism is far more significant than the number. For someone who has spent years calling Bitcoin a bubble, this marks a shift—if not in belief, then at least in behavior.

Schiff has also started accumulating Solana (SOL), though he keeps it separate under a new label, the “Crypto Stockpile,” which still resides on an exchange. This distinction highlights his cautious yet evolving stance toward digital assets—Bitcoin as a long-term reserve and Solana as a speculative holding.

While Schiff remains critical, his actions reflect the growing influence of Bitcoin and crypto. His strategy cleverly builds his holdings without cost, showing even skeptics are adapting to the digital currency landscape.

This unexpected pivot from one of Bitcoin’s harshest critics is a telling sign of how far crypto has come.