Peter Schiff Mocks US Crypto Reserve Plans, Accepts Bitcoin Donations

On his 62nd birthday, Peter Schiff, a well-known critic of Bitcoin, took to social media to make a satirical request. Instead of traditional birthday gifts, he asked his followers to donate bitcoins to his "strategic reserve." This request was a playful jab at the U.S. government's plans to establish a strategic crypto reserve, a concept Schiff has long opposed.

Schiff, who co-founded Euro Pacific Asset Management and accurately predicted the 2008 economic crisis, created his own "reserve" in March 2025 as a mockery of the government's plans. He emphasized that he would hold onto the bitcoins he received, stating, "My strategy is to go down with the ship like a true HODLer!" This phrase is a nod to the cryptocurrency community's practice of holding onto assets despite market fluctuations.

Schiff's wallet address has already received bitcoins worth $4,650, primarily from small donors. Despite his criticism of Bitcoin, Schiff has been vocal about his preference for gold or oil reserves over cryptocurrencies. He believes that diverting resources to crypto hinders a country's ability to produce real goods and create legitimate wealth.

Schiff has been a vocal critic of the Trump administration's plans for a strategic Bitcoin reserve. He has called for the creation of a national cryptocurrency, USAcoin, instead. He has also criticized the ties between the crypto industry and the current U.S. government, describing the recent White House summit on cryptocurrencies as a "shame" and "national disgrace."

Schiff's satirical request for Bitcoin donations on his birthday highlights his ongoing skepticism towards cryptocurrencies. His actions and statements underscore his belief that governments should focus on strengthening traditional reserves rather than diverting resources to crypto. Schiff's stance remains clear: he views cryptocurrencies as a waste of resources and a potential financial trap for Americans.