Gold bull and economist Peter Schiff celebrated his 62nd birthday on March 23. However, the Bitcoin skeptic didn’t forget to engage with the crypto community on the day.
Schiff asked for Bitcoin as gifts on his birthday to build a “Strategic Bitcoin Reserve” in a “budget-neutral way.” He wrote on X (formerly Twitter) that he moved his reserve from an exchange to a hardware wallet.
As President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve on March 7, Schiff remarked on X that a country diverting money to crypto is lessening its capital to “fund the production of real goods and legitimate wealth creation.”
On March 8, Schiff mockingly created his own Bitcoin reserve. When a user asked Schiff if his account got hacked, he replied, “No, I thought the post was funny. But it also makes an excellent point.”
Schiff said, “My strategy is to go down with the ship, like a true HODLer!”
On March 20, Schiff referred to the drastic decline in the value of the Official Trump meme coin and said that the U.S. government’s Strategic Bitcoin Reserve is a scam of the crypto industry to lure “more Americans into buying crypto.”
Schiff is a long-time gold advocate. When Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, suggested on March 21 that the government could consider selling some of the gold in Fort Knox to buy Bitcoin, if the move remained budget-neutral, Schiff asked for the abolishing of the Council.
“Its sole purpose is to pump Bitcoin so insiders can dump,” Schiff claimed and added that Senator Lummis’s Bitcoin bill won’t pass because of minimal Republican support and zilch Democratic support.
As of March 24, Schiff has received 0.05340705 BTC worth more than $4,600 as per Blockchain.com.
As per Kraken’s price feeds, Bitcoin was trading at $87,989.58 press time.
