Peter Schiff Just Launched a Bitcoin (BTC) Reserve to Celebrate His 62nd Birthday by Accepting Bitcoin as Birthday Gifts

It is not every day that one of the most vocal cryptocurrency skeptics makes headlines for building a Bitcoin (BTC) reserve

Peter Schiff, a renowned economist and a vocal critic of cryptocurrency, has been making headlines recently for an unexpected move: building his own Bitcoin reserve.

Earlier this month, Schiff announced the creation of his Strategic Bitcoin Reserve, a project designed to be budget-neutral and inspired by the U.S. government's approach to acquiring assets without additional costs.

Now, in a birthday post that feels both personal and calculated, Schiff revealed he has moved his Bitcoin holdings from an exchange to a hardware wallet.

"Today is my 62nd birthday. To build my reserve in a budget-neutral way, just like the U.S. government, in lieu of gifts, I'm accepting Bitcoin: bc1q0vxwxsmkjy5t95qpc0mfznl59928grsr4wfa97" - Peter Schiff

"For transparency, I moved my Strategic Bitcoin Reserve from an exchange to a hardware wallet."

He began collecting Solana, which he keeps separate from his Bitcoin reserve in an exchange wallet and calls his “Crypto Stockpile.”

Schiff is inviting people who wish to celebrate his birthday to contribute Bitcoin to his reserve. However, he is clarifying that these contributions are not donations to him personally.

“They are going to the reserve, which I will never touch or sell. But I am personally accepting any contributions people wish to make to my Strategic Bitcoin Reserve in lieu of birthday gifts,” he said.

Schiff is also open to receiving PaxGold or Tether Gold, further highlighting his cautious stance on Bitcoin itself.

“I am not asking for any other cryptocurrencies. I am not interested in receiving any other types of gifts or gift cards. Only Bitcoin is acceptable. But no Sol (Solana) or other crypto is welcome.”

As of now, his Bitcoin reserve has a modest 0.05 BTC, valued at approximately $4,200.

Despite the small amount, it is a significant development for someone who has spent years criticizing cryptocurrency.

Schiff's approach, a blend of skepticism and pragmatism, is a testament to the growing influence of Bitcoin, even among its most ardent critics.