for a long time Bitcoin (BTC) Peter Schiff, who criticizes and even escalates these criticisms to the level of hostility, entered into a BTC skirmish with his son.
Spencer Schiff, son of prominent fund manager and economist, celebrates his 20th birthday and is known as a believer in BTC, unlike his father.
Last year, Spencer announced that he was switching to Bitcoin instead of gold, which his father loved so much.
Peter Schiff’s Son Explains Why He Is Interested In Bitcoin
In his latest tweet, Peter Schiff wished his son a happy birthday, saying that Spencer’s interest in BTC was only a “temporary obsession”.
Schiff tweeted that Spencer is still young, so he has plenty of time to realize his “mistakes” with Bitcoin and gradually get his money back.
In response, Spencer explained why he is passionate about BTC. According to him, BTC is one of those things that can “make humanity more prosperous and more technologically advanced.”
He also tweeted that “Bitcoin is what has the potential to significantly improve living standards.”
Thanks but it’s really not an obsession. I’m a fan of anything that can make humanity more prosperous and technologically advanced. Bitcoin is one of many things that I think will do that.
— Spencer Schiff (@SpencerKSchiff) August 26, 2022
Schiff added that his son is not alone in his obsession with Bitcoin and that he is currently suffering from BTC losses along with millions of others, most of them young.
According to Peter Schiff, all these people made the same mistake by investing their money in BTC.
On Friday, August 26, BTC dropped sharply below $22,000 after Fed Chairman Jerome Powell’s harsh speech.
*Not investment advice.
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