Peter Schiff, known for his skepticism toward Bitcoin, has surprised many by claiming he is “probably responsible” for more people owning Bitcoin than anyone else.
In a post on X(Twitter), he wrote that numerous attendees at Bitcoin 2025 told him they bought their first coins because they read or heard his criticism.
Schiff argued that by speaking out against Bitcoin, he inadvertently drew attention to it and convinced others to invest. His tone mixed irony and bravado as he suggested his negative stance actually benefited the Bitcoin community.
Bitcoin’s Price Actions
At the time of Schiff’s comments, Bitcoin was trading at $108,699.79. Over the previous 24 hours, the price dipped by 0.20%. The global cryptocurrency market cap stood at about $2.16 trillion, while total trading volume for Bitcoin dropped 0.81%.
These figures reflect a generally stable market, with slight shifts in price and trading activity. Despite Schiff’s doubts, Bitcoin’s value has continued to climb over the years, drawing more institutional and retail interest.
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Fundraising for a Bitcoin Reserve
Recently, Schiff turned to his followers on X(Twitter) to ask for donations that would help him build a personal Bitcoin reserve. He posted a request for public support to expand his holdings, calling on people who share his approach, mirroring how the U.S. government moves assets.
Responses to his appeal were mixed. Some users poked fun at the idea of Schiff, a known Bitcoin critic, asking for coins.
Others criticized him for seeking donations after years of dismissing the asset. The back-and-forth highlights the odd position Schiff finds himself in: denouncing Bitcoin while trying to accumulate it.
Taking Aim at Michael Saylor
Schiff has also reignited a debate with Michael Saylor, the CEO of MicroStrategy. In another X(Twitter) post, Schiff suggested that Saylor should have his company borrow an additional $4.3 billion to buy the Bitcoin that the U.S. government plans to sell.
His remark was dripping with sarcasm, implying that if Saylor truly believed in Bitcoin’s long-term value, he would take on even more debt to hold it. The jab at Saylor comes amid ongoing discussions about how much leverage is wise when investing in a volatile digital asset.
Personal Bitcoin Holdings
In the same series of posts, Schiff confessed that his own Bitcoin stash is worth less than $5,000. He explained that he only holds coins thanks to donations from followers.
Schiff said his strategy for building the reserve took inspiration from the way governments handle assets, that is gathering support from a broad base.
Despite mocking Bitcoin’s wild price swings in the past, he now admits to having skin in the game, albeit a small amount. His admission underscores the irony of a long-time skeptic who now relies on the very asset he once dismissed.
Also Read: Big-Time Gold Advocate Peter Schiff Seeks Public Donations To Grow His BTC Reserve