Peter Schiff Launches His Own Strategic Bitcoin BTC/USD Reserve, Promising Not to Sell Any of It

In an effort to mock President Donald Trump's declaration, renowned economist Peter Schiff declared his own Strategic Bitcoin BTC/USD Reserve on Friday, promising not to sell any of it.

In a lighthearted jab at President Donald Trump’s recent announcement, renowned economist Peter Schiff took it upon himself to launch his own Strategic Bitcoin (BTC/USD) Reserve on Friday, vowing not to sell any of the flagship cryptocurrency.

What Happened: Taking to X, formerly known as Twitter, Schiff broke down the structure of the reserve, poking fun at the Trump administration’s plan for acquiring more BTC.

“Just like the U.S. government, I’m developing a budget-neutral strategy for acquiring my bitcoin at no incremental cost,” Schiff said, turning the tables on the administration’s plan.

He also posted the address of the so-called reserve and invited contributions from his followers.

“I've decided to create my own Strategic Bitcoin Reserve. Just like the U.S. government, I'm developing a budget-neutral strategy for acquiring my bitcoin at no incremental cost. Phase one of my strategy is inviting contributions to my reserve. 3CfJ9FqLPEWHnqf9PD5EWXTby8qYQ66BRX”

Schiff went on to clarify that none of the Bitcoins in the reserve, the world’s leading cryptocurrency, will be sold, mirroring the structure of the U.S. Strategic Bitcoin Reserve.

“It will show why a Bitcoin reserve is a bad idea. I’m going down with the ship, so others never get on board,” he added.

According to on-chain data, the address had zero Bitcoin balance at the time of writing, with the entirety of the received stash, amounting to $4,452.17, transferred to a different address.

“None of the Bitcoin in my Strategic Reserve, acquired at no incremental cost to myself, using my budget-neutral strategy, will be sold. It will show why a Bitcoin reserve is a bad idea. I'm going down with the ship so others never get on board. 3CfJ9FqLPEWHnqf9PD5EWXTby8qYQ66BRX”

See Also: Microsoft May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate

Why It Matters: Schiff’s announcement comes after he recently slammed the U.S. government’s move to create a Bitcoin strategic reserve. He argued that such investments are a waste of resources and divert capital from real wealth creation.

A long-standing critic of a national Bitcoin stockpile, Schiff has said that such a move would hasten the U.S. dollar’s demise.

These developments unfold amid a sharp downturn in the cryptocurrency market. Bitcoin tumbled to $80,000 on Sunday evening due to concerns around Trump’s trade policies, setting off a chain reaction across the broader industry.

Price Action: At the time of writing, Bitcoin was exchanging hands at $81,855.92, down 4.94% over the last 24 hours, according to Benzinga Pro.

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