Gold maximalist Peter Schiff ‘understands’ US strategic Bitcoin reserve, questions XRP legitimacy
Peter Schiff disputed claims that he endorsed a Strategic Bitcoin Reserve in a series of social media posts after he posted,
“I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let’s create a Bitcoin reserve too.”
He labeled references to his remarks as a mischaracterization and reiterated his view that the government should not subsidize digital assets. In one tweet, he likened Bitcoin to “digital gold” but maintained that creating an official reserve is unwise. He also questioned why an initiative would include XRP, SOL, or ADA, suggesting there is no clear market rationale.
Over the weekend, President Donald Trump, in a Truth Social post, stated that his Executive Order on Digital Assets directed the Presidential Working Group to form a U.S. Crypto Reserve encompassing Bitcoin, XRP, SOL, and ADA. Schiff countered that such intervention picks winners and losers and argued that markets should determine the future of cryptocurrencies without federal involvement.
Community reactions varied, with some jokingly calling Schiff a “Bitcoin maximalist.” Anthony Pompliano responded by welcoming him “home,” while others asked whether his account had been compromised. Schiff addressed the speculation, clarifying that acknowledging Bitcoin’s comparison to gold does not signal support for any official reserve policy.
The gold maximalist and vocal supporter said,
“Bitcoin pumpers twist everything to pump Bitcoin. It’s obvious that I don’t support a Strategic Bitcoin Reserve. But these pumpers have no problem lying that I do. This type of fraud is common in Bitcoin.”
