Peter Schiff, a well-known economist and Bitcoin critic, unexpectedly gained popularity in the cryptocurrency community after asking his followers to donate Bitcoin to him.
Peter Schiff's Position on Bitcoin
Peter Schiff has been vocal in his harsh criticism of Bitcoin, calling it a fraud and threatening other cryptocurrency projects. However, as of April 24, 2025, he acknowledged that the value of his strategic Bitcoin reserve surpassed $5,000, marking a first-time milestone in his career.
Donation Request and Reaction
On his X page, Schiff shared his Bitcoin wallet address for followers to send him donations to 'prove him wrong that a Bitcoin reserve is a bad idea.' Since his post, Schiff has received about $20 worth of Bitcoin from two transactions.
Changing Attitudes Towards Cryptocurrency
Despite his critical stance on Bitcoin, Schiff stated that he will never sell his Bitcoin. He compared his position to that of Michael Saylor, founder of Strategy, who is actively acquiring Bitcoin. Schiff also noted that he is not making any money from this reserve.
The situation with Peter Schiff raises questions about possible shifts in expert attitudes towards Bitcoin, especially amidst rising interest and market dynamics.
