Famous gold bug and cryptocurrency skeptic Peter Schiff says that his son, Spencer, has gone all in on Bitcoin.

Peter Schiff is the CEO of Euro Pacific Capital, a full-service, registered broker/dealer specializing in foreign markets and securities, and founder and Chairman of SchiffGold, a full-service, discount precious metals dealer. 

In his Twitter bio, Spencer Schiff (@SpencerKSchiff) says his interests include “include finance, data-analytics, Austrian economics, and libertarianism.” Back on 27 August 2020, two days after his 18th birthday, Spencer, who only had around $450 in BTC at the time, said that Bitcoin was “a pretty small percentage” of his investment portfolio.

Well, yesterday, Peter said that Spencer’s investment portfolio is now 100% in Bitcoin, and went on to say that Spencer intends to HODL his BTC no matter what happens to the price of Bitcoin.

Peter then went on to say why he needs to disinherit his son.

When someone on Twitter commented that Spencer can’t really lose even if he is wrong about Bitcoin because his father will bail him out, Peter replied that he wouldn’t do so because his son needs to learn from his mistakes.

Featured Image by “petre_barlea” via Pixabay

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