3 weeks ago
14
In a strange move, Peter Schiff became a Bitcoin investor. He said that he would not sell his bitcoin holdings, just like the US government’s latest decision.
Summary
• Peter Schiff decided to own some BTC.
• With his new decision, Schiff became a Bitcoiner, totally opposite to what he is known for.
• Schiff opposed the Bitcoin White House Crypto Summit.
Peter Schiff is popularly known as a Bitcoin hater in the crypto space. Schiff usually doesn’t miss any chance to criticize Bitcoin & cryptocurrencies. Global economist Schiff is a very big supporter of Gold & Gold ETFs. He believes that Gold-like assets are useful in many ways, while Bitcoin & other cryptocurrencies are just speculation-based assets & backed by nothing.
On 8 March 2025, Peter Schiff took to X (formerly Twitter) to share his Bitcoin acquisition plan with his X followers. To get a BTC donation, he shared his Bitcoin wallet address.
I've decided to create my own Strategic Bitcoin Reserve. Just like the U.S. government, I'm developing a budget-neutral strategy for acquiring my bitcoin at no incremental cost. Phase one of my strategy is inviting contributions to my reserve.
3CfJ9FqLPEWHnqf9PD5EWXTby8qYQ66BRX
So far, the Bitcoin community has donated 0.09628046 BTC, valued at nearly $8,199 at the current trade price of Bitcoin, to him.
With all these activities, many Bitcoin enthusiasts called Schiff a new Bitcoiner, as he is now holding Bitcoin. But in a strange move, he passed a very bitter statement. He said that Bitcoin will crash & his BTC holding also.
To avoid confusion I'm not going to be selling any Bitcoin from my strategic reserve. My strategy is to go down with the ship, like a true HODLer!
— Peter Schiff (@PeterSchiff) March 8, 2025Indirectly, this Bitcoin hater called Bitcoin holders stupid for not selling Bitcoin at a high price.
Peter Schiff vs White House Crypto Summit
As we know, on Friday of this week, President Donald Trump held the first Crypto summit. At the summit, the discussions were mainly focused on defining the bright future for this innovative space in the US jurisdiction.
Global economist Schiff called the White House Crypto Summit a disgrace and a national embarrassment. He claimed that the crypto supporters influencing the White House were exactly what the Founding Fathers had warned about.
This Bitcoin hater claimed that such activities would tarnish Trump’s legacy and be a low point for both the presidency and the United States.
The crypto summit is a disgrace. It's a national embarrassment. The crypto faction that has captured the White House is precisely what our Founding Fathers warned us about. It will be a blight on whatever legacy Trump leaves and marks a low point for the presidency and the U.S.A.
— Peter Schiff (@PeterSchiff) March 7, 2025White House Crypto Summit & Controversy
Many reports noted that the main discussion at the White House Crypto Summit was only about the current phase & future of the crypto space in the US jurisdiction.
Many crypto advocates called this government-level Crypto summit a useless thing, as there was no key announcement regarding this innovative space and crypto executives shared their opinions about the potential future steps to maintain a better future of the crypto space.
Some crypto X users opposed the leadership of Trump’s crypto team for not inviting some key crypto entrepreneurs, who are known for their transparent approach to growth in the innovative sector. For example, Cardano ($ADA) founder Charles Hoskinson was not invited, which was not expected by any person in the crypto space.
In response, Hoskinson asked the Crypto X users to stop talking about his absence in the first government-level crypto summit and also added that in the future, similar kinds of different ways will be available to participate in government-level discussions to regulate the crypto space.
I appreciate the passion and feelings that everyone has regarding whether I attend or am invited to specific US government events. Brigading government officials over X doesn't solve anything nor does it change hearts and minds. There will be many opportunities and ways to…
— Charles Hoskinson (@IOHK_Charles) March 7, 2025Read also: White House Crypto Summit Summary!
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.
English (US) · 