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Peter Schiff’s Son Goes 100% on Bitcoin, He Is “HODLing to Infinity or Bust”

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Thu, 03/11/2021 - 07:49
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Yuri Molchan
Bitcoin critic and gold bug Peter Schiff is criticizing his son for going all in on BTC and considers disinheriting him to prevent him from acquiring more Bitcoin
Peter Schiff’s Son Goes 100% on Bitcoin, He Is “HODLing to Infinity or Bust”
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Vocal Bitcoin opponent, Euro Pacific Capital CEO Peter Schiff, has taken to Twitter to talk about his son Spencer, who is a Bitcoin believer.

Schiff, Sr., seems to be disappointed by his son going all-in on Bitcoin and is joking about disinheriting him to prevent him from spending the inherited wealth on more "digital gold."

100 percent of Spencer Schiff's portfolio is now Bitcoin

Peter Schiff stated that before BTC plunged below the $50,000 level recently, his son Spencer went all-in on Bitcoin, even selling his silver stocks and converting his portfolio to holding only the world's biggest cryptocurrency.

Schiff has called Spencer "brainwashed" and complained that the majority of young investors are even more vulnerable to "Bitcoin propaganda," largely fueled by Crypto Twitter.

Schiff stated that his son Spencer is not going to sell back any of his Bitcoin, saying, “He's HODLing to infinity or bust.”

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Image via Twitter

Jokes about having to disinherit Spencer

The Euro Pacific Capital CEO has jokingly assumed that he may have to cross his son's name out of the willotherwise Spencer will buy more Bitcoin with his wealth.

Schiff, Sr., also mentioned that Twitter founder Jack Dorsey has recently subscribed to Spencer's account, so Spencer may receive the verification tick sooner than Peter Schiff.

But at least the father consoles himself by having more followers than his son.

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Image via Twitter

Related
Leading Israeli Asset Manager Pours $100 Million Into Bitcoin

Peter Schiff understands Bitcoin but still slams it

In his recent tweet, Bitcoin influencer Anthony Pompliano stated that only a few understand that Bitcoin is valuablebecause Bitcoiners believe it to be so.

Peter Schiff responded that this is clear to him and is the problem with BTC, in his view. He reckons that when the current young Bitcoiners get older they will prefer gold even if Bitcoin is still around because they will have more knowledge and experience to see through the hype.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.