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# Peter Schiff Forms His Own Bitcoin Stockpile, Gets Solana Instead
Peter Schiff, a famous detractor of Bitcoin and a supporter of gold, seems to mock Bitcoin and the wider digital currency market with his latest remarks.
He revealed on X that he was forming his own tactical Bitcoin stockpile, along with a digital asset stockpile.
> I’ve chosen to form my own tactical Bitcoin stockpile. Like the U.S. government, I’m creating a budget-neutral plan to get my Bitcoin at zero additional cost. Phase one of my plan is to invite everyone to donate to my stockpile.
> 3CfJ9FqLPEWHnqf9PD5EWXTby8qYQ66BRX > — Peter Schiff (@PeterSchiff) Anticipated Binance Coin (BNB) Valuation for March 26th 8, 2025
According to his subsequent posts, Schiff’s digital wallet has only gotten $80. However, the digital asset stockpile has seen a flood of Solana.
> So far, my tactical Bitcoin stockpile is still empty. But I’m also creating a digital asset stockpile. Someone has already sent me Solana. It appears blockchains are much quicker than Bitcoin.
> GBZgSHKBMKAtHgpFKgraM3ZCvGqEjBoKoGZQaYifaw8a
> — Peter Schiff (@PeterSchiff) March 8, 2025
His remarks imply he is doubtful about Bitcoin’s long-term practicality, comparing it to a pyramid scheme and implying that political aspects may extend its lifetime.
Schiff has regularly claimed that Bitcoin lacks inherent worth and that government involvement or market dynamics will ultimately reveal its vulnerabilities.
## Digital Currency Tactical Stockpile
On Thursday, the U.S. President signed an executive order to create a tactical digital currency stockpile by utilizing tokens the government already possesses, frustrating some in the market who were expecting a solid plan to acquire new tokens.
The action had minimal influence on the price of Bitcoin or the wider market. As of press time, BTC is being exchanged at $86,285.
The attitude of the American administration towards virtual currency is equated with the digital Fort Knox by the head of AI and crypto of the White House, David Sacks. He compared it to a military base in Kentucky, which protects a large part of the gold reserves of America.
Sacks assumes that the US government owns at least 200,000 Bitcoins, which is about $ 17.5 billion at current prices. His comments indicate that the American administration is trying to regulate and protect its crypto assets.
Sacks himself acknowledged that it was a pity that they did not maximize the value for American taxpayers, and some argue that officials should have been more proactive in using these assets.
While some in the crypto community see this as a step towards legitimizing virtual assets, others criticize the government’s lack of transparency in its crypto strategy.
In response, he calls for a complete inventory of the government’s crypto reserves, hinting at possible changes in how the United States manages its virtual assets.
**White House Crypto Summit**
A crypto summit was recently held at the White House, bringing together leading industry figures to discuss the vision for managing the government’s digital asset reserves.
Notable participants included Michael Sailor, CEO of MicroStrategy, Brian Armstrong, co-founder of Coinbase, investors Cameron and Tyler Winklevoss, and Brad Garlinghouse, CEO of Ripple. Zac Witkov, co-founder of World Liberty Financial, also attended the meeting.
Treasury Secretary Scott Besent reaffirmed the government’s commitment to maintaining the American economy.
These discussions are expected to be central to a special crypto summit held at the White House, where politicians and industry leaders will discuss the future role of cryptocurrency in the American economy.
The cryptocurrency world experienced a tempestuous week! The White House convened a digital currency conference, while the CFTC’s chief executive led a discussion group, suggesting a possible change in the United States government’s perspective on virtual holdings. Toncoin (TON) Value Forecast for March 26th
Rumors abound that the US might possess Bitcoin and even XRP, along with intentions to incorporate stablecoins into the monetary structure. Ripple’s Garlinghouse is hopeful that the authorities are ultimately acknowledging the significance of the crypto environment. Numerous individuals think that this gathering signifies advancement toward more explicit rules and a more accommodating setting for cryptocurrencies within the US.”
