Bitcoin critic and gold digger Peter Schiff criticizes his son for entering BTC and is considering banning him from inheritance to prevent him from acquiring more Bitcoin.
Peter Schiff, CEO of vocal Bitcoin rival Euro Pacific Capital, made statements about his son Spencer, who believes in Bitcoin.
Schiff seems to be disappointed that his son invested everything in Bitcoin and jokes about depriving him of his legacy to avoid spending it on “digital gold”.
100 percent of Spencer Schiff’s portfolio is now Bitcoin
Peter Schiff noted that before BTC recently dropped below the $ 50,000 level, his son Spencer went entirely into Bitcoin, even selling silver stocks, transforming his portfolio into holding only the world’s largest cryptocurrency.
Schiff calls Spencer “brainwashed” and complains that most of the young investors are more vulnerable to “Bitcoin propaganda”, which is largely supported by Crypto Twitter.
“He’s doing HODLing to eternity or collapse,” said Schiff, stating that he would not sell any of his son Spencer’s Bitcoins back.
Peter Schiff understands but still criticizes Bitcoin
Bitcoin enthusiast Anthony Pompliano stated in a recent tweet that very few people understood that Bitcoin is valuable – because Bitcoiners believe it is.
Peter Schiff said this was clear to him and that in his opinion it was BTC’s problem. Current young Bitcoins think that when they get older, they will prefer gold even if Bitcoin is still around, because they will have more knowledge and experience to see the hype.