In a recent video, Peter Schiff and Spencer Schiff, the father and son duo, are featured talking about Bitcoin and the cryptocurrency markets. This is not an uncommon sight, as the two have appeared on multiple podcasts in which they discuss the crypto markets. However, in the most recent video, both Peter and Spencer seem to be a bit more optimistic with regards to Bitcoin, and they are also just as opinionated as ever.
Peter Schiff, a renowned economist and gold expert, has consistently spoken out against bitcoin for years, believing that precious metals are far superior. Many have refuted Schiff’s claims about bitcoin, but in the past year, the gold microbe has gotten another thorn in its side. In recent days, Schiff’s Twitter opponent has been his own son Spencer Schiff, a young entrepreneur interested in finance, Austrian economics, libertarianism [and] anarcho-capitalism.
gold ladybird vs.bitcoin ladybird
Bitcoin.com News has written about Peter Schiff several times over the past year, and our editors once did an article about his father, Irwin Schiff. His late father, Irwin, was a very popular libertarian and tax advocate who published a number of books.
Our editors have also reported on Peter’s son on other occasions this year. Peter’s son, Spencer Schiff, is a die-hard bitcoin (BTC) fan, and he always has something to say when his dad tweets about the leading crypto asset.
It’s best to have satiating side dishes.
– Spencer Schiff (@SpencerKSchiff) May 2, 2021
On Sunday morning (ET), when his father tweeted a response to Zerohedge’s article on inflation, Spencer wrote: You better sit down in response to his father’s tweet.
When Peter tweeted that the Federal Reserve and its chairman Jerome Powell were not worried about inflation, Spencer responded with a photo of his laser-eyed father and said: Come with us.
But when someone told Peter that he had raised a smart child, the gold virus wrote:
He may be smart, but when it comes to bitcoin, he’s an idiot.
Spencer unsure if he will follow his father’s advice on bitcoin
A few days earlier, Peter Schiff tweeted about his other favorite precious metal, silver, and shared an article about it. His son responded to the tweet, as he often does every few days, with a tweet about how bitcoin would come after money.
This would only be the case in the case of a direct exchange. If gold was commonly used as a medium of exchange and its industrial/general use has disappeared, it can still be money.
– Spencer Schiff (@SpencerKSchiff) April 26, 2021
In another case, a man told Spencer that he probably would have had more bitcoins if he hadn’t listened to his father.
I’m sure I would have had more sats if I had stopped listening to his bitcoin advice earlier, Spencer said.
When his father shared an article that talked about the beginning or end of the so-called bitcoin bear market, Spencer responded without reading the article. I bet you think that’s a start, his son remarked.
They agree on one thing Libertarianism
Let’s just say that, like Peter Schiff’s constant tweets about his dislike of bitcoin, Spencer is responding to his father with similar tweets.
If Michael Saylor is right that if the price of bitcoin goes up, it is less risky to buy it, then it must also be true that if the price of bitcoin goes down, it is riskier to own it. This is an extremely dangerous characteristic for an asset during a bear market, Peter wrote on the 22nd. April and tagged Microstrategy’s CEO.
As butter, a few hours later, Spencer Schiff gave a funny response to his father, and often Spencer gets a lot more likes and retweets.
Need I remind you that bitcoin is up 600% in the last year?
Peter Schiff and his son Spencer seem to have a strong and fun relationship, and everything said is basically an attack on BTC or gold. Goldsmith has long been opposed to bitcoin, and it doesn’t look like he’s going to change his mind anytime soon, even with his own son.
Bitcoiners have more or less joined Spencer Schiff in knowing he was quick to respond to one of his father’s anti-bitcoin tweets. Despite their differences on bitcoin, Spencer and Peter are both proponents of the free market and follow Irwin’s libertarian ideals.
What do you think of Peter and Spencer Schiff’s relationship with bitcoin? Let us know what you think in the comments below.
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