Peter Schiff Establishes Personal 'Strategic Bitcoin Reserve,' Vows Not To Sell: 'Going Down With The Ship So Others Never Get On Board'

In an effort to mock President Donald Trump’s declaration, renowned economist Peter Schiff declared his own Strategic Bitcoin (CRYPTO: BTC) Reserve on Friday, promising not to sell any of it.

What Happened: Schiff took to X to explain the structure of the reserve.

“Just like the U.S. government, I’m developing a budget-neutral strategy for acquiring my Bitcoin at no incremental cost,” Schiff said, taunting the Trump administration’s plan for acquiring more BTC.

Schiff also posted the address of the so-called reserve and invited contributions from his followers.

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

— Peter Schiff (@PeterSchiff) March 8, 2025

Schiff clarified that none of the Bitcoins in the reserve will be sold, similar to the structure of the U.S. Strategic Bitcoin Reserve.

“It will show why a Bitcoin reserve is a bad idea. I’m going down with the ship, so others never get on board,” he added.

According to on-chain data, the address had zero Bitcoin balance as of this writing, with the entirety of the received stash worth $4,452.17 transferred to a different address.

None of the Bitcoin in my Strategic Reserve, acquired at no incremental cost to myself, using my budget-neutral strategy, will be sold. It will show why a Bitcoin reserve is a bad idea. I'm going down with the ship so others never get on board.
3CfJ9FqLPEWHnqf9PD5EWXTby8qYQ66BRX

— Peter Schiff (@PeterSchiff) March 9, 2025

See Also: Microsoft May Have Given Bitcoin Investments A Miss But A Large MSFT Stock Holder Is A Strong Crypto, Blockchain Advocate

Why It Matters: Schiff’s announcement follows his recent criticism of the U.S. government’s decision to create a Bitcoin strategic reserve. He argued that such investments are a waste of resources and divert capital from real wealth creation.

A long-standing critic of a national Bitcoin stockpile, Schiff has argued that such a move would accelerate the U.S. dollar’s demise.

These developments come amid a sharp drop in the cryptocurrency market. Bitcoin tumbled to $80,000 Sunday evening due to concerns around Trump’s trade policies, sparking a ripple effect across the broader industry.

Price Action: At the time of writing, Bitcoin was exchanging hands at $81,855.92, down 4.94% in the last 24 hours, according to data from Benzinga Pro.

Image via Shutterstock

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• Trump Creates Strategic Bitcoin Reserve Funded By Forfeited Assets: ‘I Made The Promise’ — BTC Dips 4%

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.