• Economist launches personal Bitcoin reserve, inviting donations via wallet address for public contribution.
• U.S. government establishes national Bitcoin reserve, formalized by Trump’s executive order in March 2025.

Peter Schiff recently announced the creation of a personal “Strategic Bitcoin Reserve” on the X platform, inviting public contributions through a specific digital wallet address, 3CfJ9FqLPEWHnqf9PD5EWXTby8qYQ66BRX.

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

The announcement coincides with a U.S. government initiative, led by President Donald Trump, to establish a national Strategic Bitcoin Reserve. Trump formalized this plan with an executive order on March 6, 2025, and highlighted it during the White House Digital Asset Summit on March 7, 2025.

Peter Schiff, who has previously expressed doubts about cryptocurrencies, now proposes a private reserve to examine Bitcoin’s potential as a secure, scarce asset, similar to gold. His approach depends on donations from individuals, which introduces uncertainty due to Bitcoin’s fluctuating value and risks from online security threats, as financial experts have noted.

David Sacks, the White House’s AI and cryptocurrency advisor, described the government’s strategy as creating a “digital Fort Knox,” referencing the Kentucky facility that stores much of the nation’s gold.

Sacks estimates the federal government holds at least 200,000 Bitcoin, worth about $17.5 billion at current prices. He emphasized protecting these assets but acknowledged missed opportunities to maximize their value for taxpayers, calling for a detailed review of the government’s digital holdings.

The White House Crypto Summit on Friday brought together industry leaders, including executives from MicroStrategy, Coinbase, and Ripple, to discuss the role of cryptocurrencies in the U.S. economy. Treasury Secretary Scott Bessent reaffirmed the dollar’s status as the global reserve currency while exploring stablecoin integration.

Some attendees viewed the summit as progress toward clearer crypto regulations, though concerns persist about transparency and strategy. Bitcoin’s price remained stable at $86,285 following the summit.

The post Peter Schiff’s Bitcoin Plan: Analyzing Its Role Amid U.S. Crypto Initiatives appeared first on ETHNews.