Peter Schiff, Long-Time Bitcoin Detractor, Embraces Crypto on His Birthday

Key Points

• Peter Schiff, a known Bitcoin critic, moves his Bitcoin Strategic Reserve to a hardware wallet on his 62nd birthday.
• Schiff’s shift in attitude sparks debate about his true intentions and the stability of the crypto market.

Peter Schiff, a notorious critic of Bitcoin, has made an unexpected move. On his 62nd birthday, he transferred his Bitcoin Strategic Reserve to a hardware wallet, a decision that has surprised many in the crypto community.

Peter Schiff’s Birthday Surprise

Schiff announced the news on social media, revealing that he had moved his Bitcoin reserve from an exchange to a hardware wallet. This move has led to speculation about whether Schiff’s views on Bitcoin are changing, or if this is simply a practical decision in response to market trends.

In addition to sharing his wallet address and inviting contributions, Schiff clarified that these are not personal donations, but will be added to the reserve. Despite his newfound acceptance of Bitcoin, Schiff continues to support his gold-backed ideology, accepting PaxGold and Tether Gold as well.

Community Reactions

Schiff’s sudden change in stance has caused a stir in the crypto community, with many users expressing their surprise and skepticism. Some users mocked Schiff’s decision, pointing out his previous anti-Bitcoin stance.

Schiff’s evolving views on Bitcoin come at a time when the crypto market is rapidly changing. His recent claims about China selling off $100K worth of Bitcoin in January align with his ongoing skepticism about the stability of the crypto market.

Meanwhile, Bitcoin is showing signs of strength, trading at $86,952.51 after a 3.91% increase in the past 24 hours. Whether Schiff’s move is a genuine shift in belief or a strategic play remains unclear, but it certainly adds a new dimension to the ongoing discussion about Bitcoin.