Peter Schiff, the Bitcoin (BTC) Reserve

It is not every day that one of the most vocal cryptocurrency skeptics makes headlines for building a Bitcoin (BTC) reserve, but Peter Schiff, who just turned 62, is full of surprises.

Peter Schiff, the outspoken cryptocurrency skeptic, has announced the creation of a Strategic Bitcoin (BTC) Reserve and is inviting people to contribute to it.

In a birthday post that feels both personal and calculated, Schiff, who just turned 62, also revealed he has moved his Bitcoin holdings from an exchange to a hardware wallet, a move he says is all about transparency.

"I'm making sure that my small BTC holdings are no longer held on an exchange and are now in a hardware wallet. This way, you can track them on the blockchain and see exactly where they are at all times. I prefer complete transparency in my affairs," he stated.

What is particularly interesting is how Schiff is framing this whole thing. Instead of asking for traditional birthday gifts, he is inviting people to contribute Bitcoin to his reserve. But here is the twist: he is quick to clarify that these contributions are not donations to him personally. They are going into the Strategic Bitcoin Reserve, which he insists he will never touch or sell.

"I'm not asking for any personally preferred gifts. If you'd like to contribute to my Strategic Bitcoin Reserve, you can send small amounts of BTC (or PaxGold / Tether Gold if you prefer). The contributions will go into the reserve, which I will never sell or spend."

It is a clever way to build his holdings without spending a dime, and it is hard not to admire the practicality of it all. And his openness to receiving PaxGold or Tether Gold further highlights his cautious stance on Bitcoin itself.

It is a subtle distinction but one that speaks volumes about how he views these assets - Bitcoin as a long-term reserve, Solana as something else entirely.

As of now, his Bitcoin reserve holds a modest 0.05 BTC, which is valued at around $4,200. It is not a huge amount, but for someone who has spent years criticizing cryptocurrency, it is an intriguing development.

While Schiff's approach is rather a mix of skepticism and pragmatism, it is a great reminder that even the loudest critics cannot ignore the growing influence of Bitcoin.

This article was originally published on U.Today

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