Peter Schiff, a Long-time Critic of Bitcoin, Is Making Headlines for a Surprising Move—Building His Own Bitcoin (BTC) Reserve

Peter Schiff, a long-time critic of Bitcoin, is making headlines for a surprising move—building his own Bitcoin (BTC) reserve.

Peter Schiff, the economist best known for his bearish views on Bitcoin (BTC) and his enthusiasm for gold, is making headlines for an unexpected move: building his own Bitcoin reserve.

The 62-year-old has launched what he calls a “Strategic Bitcoin Reserve,” inspired by the U.S. government’s initiative to acquire assets without affecting the budget.

In a birthday update, Schiff announced that he had moved his Bitcoin from an exchange to a hardware wallet, a step he took to ensure complete transparency. He also decided to open the reserve for public contributions.

“I am not accepting any personal gifts. But if anyone wants to contribute to the Strategic Bitcoin Reserve, they are welcome to do so. The smaller the contribution, the better,” he stated.

These contributions, he said, will never be sold or used in any way, making it a unique initiative focused solely on expanding the reserve’s BTC holdings.

“To contribute to the Strategic Bitcoin Reserve, you can send Bitcoin to the contribution address. I am also accepting PaxGold (PAXG) and Tether Gold (XAUT) contributions to the Strategic Bitcoin Reserve.”

At present, his Bitcoin reserve has 0.05 BTC (around $4,200), but the symbolism outstrips the size. For someone who has relentlessly called Bitcoin a bubble for years, this marks a surprising shift—if not in belief, then at least in behavior.

In another development, Schiff has begun accumulating Solana (SOL), which he keeps distinct from Bitcoin in a new category called the “Crypto Stockpile.” However, this stockpile remains on an exchange, contrasting with his decision to move his BTC to a hardware wallet.

This differentiation underscores his cautious yet evolving stance toward digital assets—Bitcoin as a long-term reserve and Solana for more speculative holding.

Despite his ongoing criticism, Schiff’s actions demonstrate the growing footprint of Bitcoin and crypto. His strategy cleverly allows him to build his crypto holdings without any personal expenditure, showcasing how even skeptics are adapting to the changing landscape of digital currencies.

This unexpected pivot from one of Bitcoin’s harshest critics is a testament to the transformative journey of crypto.