Bitcoin’s opponent Peter Schiff, CEO of Euro Pacific Capital, spoke on Twitter recently about his son Spencer, who believes in Bitcoin.
100% of Spencer Schiff’s portfolio is now Bitcoin
The old ship seemed disappointed that his son was fully invested in Bitcoin and joked about revoking his inheritance rights to prevent him from using the inherited wealth for more “digital gold”.
Peter Schiff stated that before BTC recently fell below $50,000, his son Spencer invested in Bitcoin and even sold his silver stocks and converted his portfolio into holding the world’s largest cryptocurrency.
Schiff called Spencer “brainwashing” and complained that most young investors are more vulnerable to “cryptocurrency propaganda,” which is largely driven by crypto tweets.
Schiff said his son Spencer won’t sell any of his bitcoins. He said, “His goal is to be infinite or bankrupt.”
Peter Jokes About Crossing Son’s Name on His Will
The CEO of Europacific Capital jokingly thought he might have to give up his son’s name – otherwise Spencer would use his fortune to buy more bitcoins.
Schiff, Sr. also mentioned that Twitter founder Jack Dorsey recently subscribed to Spencer’s account so Spencer may receive verification ticks earlier than Peter Schiff.
But at least the father has more followers than his son to comfort himself with.
Peter Schiff Believes Young Bitcoiners Will Prefer Gold at Old Age
Bitcoin influencer Anthony Pompliano said in a recent tweet that few people know that Bitcoin is valuable because bitcoinists believe it is.
Peter Schiff replied that it was obvious to him that it was a BTC problem. He believes that as they get older, young Bitcoiners prefer gold, even if Bitcoin is still around, because they have more knowledge and experience to understand the hype.