Peter Schiff’s son puts all his investments into Bitcoin

Bitcoin skeptic and gold advocate Peter Schiff said that his son Spencer has moved 100% of his investment portfolio into Bitcoin.

My son @SpencerKSchiff went all in on #Bitcoin on the last drop below $50k. 100% of his portfolio is now in Bitcoin. He sold the last of his #silver stocks to raise the cash. If my own son is this brainwashed imagine how vulnerable most kids are. He’s HODLing to infinity or bust.

— Peter Schiff (@PeterSchiff) March 10, 2021

“If my own son is this brainwashed, imagine how vulnerable most kids are. He will hold [Bitcoin] to infinity or bust,” Schiff wrote.

According to the Bitcoin skeptic, his son bought digital gold during the recent price dip below $50,000. To do this, Spencer Schiff sold the remaining silver, the father noted.

In March 2020, the gold advocate spoke unfavourably about the intelligence of cryptocurrency investors.

In October Schiff called Bitcoin the largest bubble in history. In his words, holders of the asset are more confident in their correctness than investors during the dot-com era and the mortgage crisis.

In December, the uncompromising Bitcoin skeptic criticised MicroStrategy head Michael Saylor for his public statement about plans to buy Bitcoin with $650 million raised by the company.

In January 2021, cryptocurrency enthusiasts told Schiff about the true purpose of gold. Later, Tesla and SpaceX founder Elon Musk explained to the gold advocate, what real money is.

In March, Schiff said that investors were stupid enough to buy Bitcoin. He also congratulated those who managed to acquire the first cryptocurrency before the rally and prompted Wall Street to succumb to “this mania”.

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