Bitcoin critic Peter Schiff seeks to grow his strategic BTC reserve

Peter Schiff has shown interest in building his strategic Bitcoin reserve as he seeks support from the public to grow the reserve

Peter Schiff, the well-known Bitcoin critic, has expressed interest in expanding his strategic BTC reserve. In a post on X today, Schiff sought support from the public to grow the reserve, which has been solely funded by donations since its creation.

The post, which can be viewed here, elicited sarcastic reactions from commenters, who were amused by Schiff's initiative.

Schiff's post on X read:

"I’m trying to build a small strategic Bitcoin reserve. But the total value of BTC in my entire reserve is still less than $5,000. The reserve is funded solely by donation and began in December. I’m open to receiving more BTC donations to help grow the reserve."

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.

Schiff's initial decision to own a Bitcoin reserve surprised the public, while 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 article was originally published on U.Today

Which stock should you buy in your very next trade?

With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.

In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.

With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.