The apple sometimes falls further from the trunk than the tree would like: Peter Schiff has outed his son as a Bitcoin maximalist.
Peter Schiff’s son is heading towards his disinheritance: The well-known precious metal enthusiast announced on Twitter that his offspring is now 100 percent invested in Bitcoin.
My son Spencer got into #Bitcoin all the way under $ 50k on the last case. 100% of his portfolio is now in Bitcoin. He sold the last of his #silver stocks to collect the money. When my own son has been brainwashed like this, imagine how vulnerable most children are. He’s at HODLN to infinity or broke.
Peter Schiff via Twitter
Now the two are staging a family feud on crypto Twitter, which primarily plays into Schiff Junior’s cards. Since the tweet from his senior, the self-declared “anarcho-capitalist” can also count the Twitter founder Jack Dorsey among his followers. So the marketing coup seems to have been successful.
Peter Schiff is currently in a difficult position: For years, the gold fan has been wary of an impending devaluation of the US dollar, which is becoming more and more probable due to the expansionary monetary policy of the Fed and, most recently, the corona rescue packages worth billions. Alone, the safe harbor, into which the ship wants to maneuver unsettled investors, has not really benefited from this so far.
The gold course has long since recovered from the corona crash in March 2020. The big run on the precious metal did not materialize, however. At the time of going to press, the price of gold CFDs at $ 1,705 is only around 13 percent above the corona low of around $ 1,500. If, on the other hand, you look at the 1,000 percent increase in the price of Bitcoin, the narrative of the safe haven asset gold begins to crumble significantly. Peter Schiff, who earns his money by selling gold among other things, is just as unlikely to force that from his course as the taunts of his son.
P.S. You Can Support me For Free Through ALL of these Links and earn some Crypto/Money Yourself! https://allmylinks.com/zealdorn
Disclaimer: These lines are not a substitute for investment advice, investments in the crypto market are made at your own risk. Invest only as much as you are willing to lose. I get commissions for purchases made through links in this post.