Spencer Schiff, the son of precious metals trader SchiffGold chairman Peter Schiff, recently decided to move 100% of his portfolio to bitcoin, a move that caused Peter Schiff to become extremely upset and threaten to “disinherit his son “.
Peter Schiff is a well-known Bitcoin opponent who believes that Bitcoin will never be used as a general currency and that a permanent drop to $0 in the future is not out of the question, asserting that anyone who invests money in Bitcoin is a fool because they don’t realize that it’s just a “solution” and that Gold is more reliable as a way to preserve value than Digital assets are more reliable.
Peter Schiff’s son, Spencer, decided to sell his last batch of silver stocks to raise cash and focus 100% of his portfolio on bitcoin, a move that caused Peter to become extremely upset, tweeting on the 11th that “my son was all in when bitcoin last fell below $50,000, if even my son is brainwashed like this, it’s hard to imagine how vulnerable other How vulnerable will other kids be?”
There are many people who believe that too many people are lost in the money tide and that investing in bitcoin is extremely risky, but many people are still holding onto the idea of becoming millionaires and are willing to fight for their lives, and are likely to suffer huge losses in the future.
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