Peter Schiff says his son is no more bullish on Bitcoin

On Jul 20, 2023

A popular Bitcoin critic said that his son is no longer interested in Bitcoin and now he is focusing on the future’s tech trends.

Peter Schiff is a global economist. He invests in Gold and also always talks about physical Gold, Gold bonds, & Gold ETF and also motivates other people to go for Gold investment. In the past Schiff never supported Bitcoin and also passed several negative comments about Bitcoin.

On 19 July 2023, Peter Schiff took to Twitter to criticise Bitcoin and said that his son is not interested in Bitcoin and now he is engaged in the Artificial intelligence (AI) tech sector.

Bitcoin hater Indirectly said that soon other young people will also lose their interest in Bitcoin to focus on something new.

My son @SpencerKSchiff is no longer bullish on #Bitcoin. As young people typically do, he's lost interest in a passing fad and moved on to something new. In this case it's #AI that's captivated his attention. As Bitcoin's young fan base matures many more will grow out of Bitcoin.
— Peter Schiff (@PeterSchiff) July 19, 2023

On the same day, Schiff’s son Spencer said that he changed his interest. First of all, he admitted that Bitcoin is a much better form of money than a dollar and admitted that it will make investors wealthy but at the same time he said that some other things can help to make more money over Bitcoin.

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I don’t think it does. It would be nice to be on a Bitcoin standard because Bitcoin is a much better money than the dollar, but at this point we’re all about to become so wealthy anyway that it doesn’t matter what money we’re using. In other words, on a Bitcoin standard maybe…
— Spencer Schiff (@SpencerKSchiff) July 19, 2023

The Bitcoin supportive statements passed by Spencer is showing that he’s trying to stop the attacks he is facing from the Bitcoin proponents.

On 18 July, Spencer claimed that Bitcoin will crash near to zero trade price in the upcoming few years. He also said that Bitcoin will not bring overall any impact on the world.

It’s not about Bitcoin at all. I don’t think Bitcoin will have a major impact on the world, and its price will probably fall to near zero over the next few years. My thesis is an AI thesis.
— Spencer Schiff (@SpencerKSchiff) July 18, 2023

It is worth it to note that Spencer was a bitcoin bullish person till March of this year and also the Bitcoin community was thinking that someday Spencer will convince his father to change his stance on the future of Bitcoin.

Crypto and blockchain companies might go bankrupt but Bitcoin won’t go down with that ship. It’s actually the lifeboat
— Spencer Schiff (@SpencerKSchiff) March 10, 2023

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