Bitcoin Critic Peter Schiff's Son to Hold His Funds in BTC

by in Cryptocurrency News

Peter Schiff's son holds his portfolio in BTC

American stockbroker, the CEO of Euro Pacific Capital Inc., Peter Schiff announced on Twitter that his son Spencer Schiff moved 100% of his portfolio investments into Bitcoin.

Related: Bitcoin capitalization exceeded $1 trillion again

Peter Schiff, who is a major Bitcoin critic, expressed his disapproval of his son's decision. Particularly, he wrote that Spencer sold all of his silver stocks to buy BTC. In his tweet, the entrepreneur says his son must be "brainwashed" to do so. According to Peter Schiff, young people are vulnerable and can lose serious money by HODLing.

US investor and host of the Pomp Podcast Anthony Pompliano referred to this case tweeting that at least someone in Schiff's family was growing their wealth this year. As a response, Schiff said that maybe he would need to "disinherit" his son so the latter couldn't waste his hard-earned wealth. Schiff pointed out his having a diverse portfolio too, which is not limited to gold. Euro Pacific Capital's CEO said previously that although Bitcoin hits new highs and can even reach $100.000, the price will eventually fall to $0.