Peter Schiff, a well-known Bitcoin critic, surprised the public by starting his Bitcoin reserve, accepting BTC as gifts.
Peter Schiff's Unexpected Move
Peter Schiff, a long-time crypto skeptic, announced the creation of his Strategic Bitcoin Reserve, moving funds off an exchange and into a hardware wallet. He claims this move is all about transparency. Rather than traditional birthday gifts, he has asked people to contribute Bitcoin to build his reserve.
Strategy and Personal Preferences
Schiff explained that the collected funds will be used only within the reserve and never spent. Despite this move towards Bitcoin, his preferences still lean towards gold-backed assets like PaxGold or Tether Gold. He has also started collecting Solana (SOL) but keeps it separate from his Bitcoin reserve.
A Small but Significant Start
Currently, Schiff's reserve holds 0.05 BTC, equivalent to about $4,200. While this is a small start, for someone who has spent years bashing Bitcoin, it's a significant shift.
Peter Schiff, despite his long-standing criticism of Bitcoin, has begun his journey into the world of cryptocurrency, illustrating that even staunch opponents are beginning to acknowledge the influence of digital assets.
