Peter Schiff Criticizes Trump’s Executive Order on Strategic Bitcoin Reserve

Peter Schiff slams Trump’s executive order, arguing it limits the U.S. to holding seized Bitcoin without purchasing more.

Fridah Kangai
March 8, 2025
2:26 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Peter Schiff criticizes Trump’s executive order, calling it “bogus” and claiming it only allows the U.S. to hold seized Bitcoin.
The U.S. Strategic Bitcoin Reserve will consist only of seized BTC, sparking debates on the government’s approach to crypto.
Trump plans to meet crypto executives at the White House, potentially expanding the reserve beyond Bitcoin and altcoins.

Peter Schiff strongly condemned President Donald Trump’s Strategic Bitcoin Reserve executive order through his public commentary. The order provides no power to the U.S. government for Bitcoin acquisition, although it allows them to retain seized BTC.

Through his X social media post, Schiff disapproved of the presidential order by identifying it as “bogus.” President Trump issued it after substantial pressure from his donors and cabinet members whose financial interests conflicted with Bitcoin. Even though he did not examine the entire document, Schiff insisted that the executive order prevents the U.S. government from buying Bitcoin because asset acquisition requires payment transactions.

Under pressure from his donors and conflicted cabinet members, Trump just signed a bogus executive order to create a Strategic Bitcoin Reserve using the Bitcoin the government already owns. But the executive order doesn't authorize the buying of any more Bitcoin. Look out below!
— Peter Schiff (@PeterSchiff) March 7, 2025

U.S. Bitcoin Reserve to Consist of Seized Assets

Through President Trump’s executive order, the United States made plans to create a strategic Bitcoin reserve. The government-owned Bitcoin will come exclusively from criminal investigations via asset forfeiture but will exclude any further purchases from the reserve.

Following his announcement to expand the crypto reserve with XRP, Cardano (ADA), and Solana (SOL), Trump made this strategic move. The government continues adopting digital assets as part of its financial operations by introducing multiple cryptocurrencies into its framework.

Limiting the reserve to seized Bitcoin has drawn mixed reactions within the crypto community. Some investors believe this move restricts the government’s ability to acquire Bitcoin as a strategic asset. In contrast, others see it as an indication of a regulatory shift in handling digital currencies.

Market Reaction and Upcoming White House Meeting

The announcement resulted in a price decrease of Bitcoin, which amounted to roughly 6% of its value. The market demonstrated strength by enabling Bitcoin to rebound to $88,831 before the presidential meeting with crypto executives.

During a White House gathering, Trump intends to discuss his administration’s crypto reserve strategy with industry professionals. Several cryptocurrencies, including Ethereum (ETH), XRP, ADA, and SOL, presently exist on the list of potential additions to the crypto reserve system.

The crypto industry remains attentive to the policy direction the administration will take as regulatory measures continue to shape the future of digital assets in the U.S. More details are anticipated following the White House meeting.

Also Read: Peter Schiff Questions XRP’s Inclusion in Multi-Token Reserve as Crypto Prices Surge