Peter Schiff’s Bitcoin Reserve Grows as BTC Eyes Breakthrough at $87,500!

Peter Schiff, a strong critic of Bitcoin and proponent of gold, has made an unexpected move, updating his self-declared “Strategic Bitcoin Reserve.” Schiff launched the reserve as satire initially and has long condemned BTC as a speculative bubble. Curiously, Schiff is now soliciting donations to help grow his enterprise, therefore stirring interest in the cryptocurrency sector. Is this an indicator of changing attitudes or simply another method of criticism of Bitcoin’s long-term sustainability?

Schiff’s Bitcoin Reserve Update and Market Reactions

Renowned for his never-ending criticism of Bitcoin, Peter Schiff recently gave an update on his satirical “Strategic Bitcoin Reserve.” Originally meant as a joke, the reserve has grown to 0.05 BTC, approximately worth $4,200. Schiff is now accepting donations in a startling turn, arguing this enables him to grow the reserve without actually buying Bitcoin. The change has provoked varied responses. Some in the crypto community think Schiff is gently recognizing Bitcoin’s value, while others suspect it’s a publicity ploy. 

His openness to other investments, such as PaxGold and Tether Gold also shows his gold-backed position. Notwithstanding his objections, Schiff’s reserve has grown to be a main topic in debates on the acceptance and legitimacy of Bitcoin. Whether this is a change in viewpoint or just another way to draw attention to Bitcoin’s supposed flaws, it has effectively revived the conversation about gold against cryptocurrency as a long-term store of value. Let’s take a look at BTC price prediction to see what Bitcoin price is doing in these types of developments.

BTC Price Prediction for March 24, 2025

Bitcoin is now trading at 87,150, indicating a robust upward trend inside an ascending channel. With critical support points at $85,600 and $84,800, the price activity is bullish and creates higher peaks and lower lows. $87,500 and $88,000 are the next likely positive objectives if BTC holds above the channel support. BTC is nearing overbought territory, as shown by the Relative Weight Index (RSI) at 67. Overbought levels with RSI have historically resulted in small retractions before more development. 

Chart 1: Analysed by vallijat007, published on TradingView, March 24, 2025

A correction toward $86,500 or even $85,600 might result should BTC face rejection at resistance. Though the MACD indicator remains positive, it indicates first signs of reduced momentum. A deathcross could cause short-term consolidation. The bullish look stays intact nevertheless as long as BTC keeps higher lows. Traders are hoping for a move toward new highs if BTC can break past $87,500 or fearing that profit-taking will spark a short-term setback.

Peter Schiff Bitcoin Reserve Update Sparks Debate Amid Bullish BTC Momentum

The most current update to Peter Schiff Bitcoin reserves has once again started an argument in the crypto world. Although his 0.05 BTC reserve is still relatively small, his present acceptance of Bitcoin donations begs some issues. Is Schiff indirectly recognizing the legitimacy of BTC, or is this simply another means he is using to support his gold-first philosophy? Bitcoin’s price activity is meanwhile bullish; $87,500 is the next significant resistance level. Although the market sentiment is positive, overbought signals indicate possible temporary corrections. Notwithstanding Schiff’s opinions, the market performance of Bitcoin still contradicts conventional financial wisdom.