Popular financial commentator and gold attorney Peter Schiff recently told people to send Bitcoin (BTC) to his 18-year-old son.
“Since so many of you Bitcoin users are joking that my son [Spencer Chef] buys Bitcoin, why not really rub it by giving him something as a late birthday present,” Schiff said in a tweet on August 27. Yesterday, “Schiff commented.” He’s not going to lose it, “he said, posting the address of his son’s wallet.
Schiff’s tweet hints at an event in early 2020 when a gold lover lost access to his bitcoin storage. He said in a tweet in January 2020: “I knew owning Bitcoin was a bad idea. I never realized it was that bad.”
At the time of going to the squeeze, the Bitcoin address, which Schiff is listing as his son’s address, was 0.0627 BTC.
Schiff has made negative comments against Bitcoin several times, often citing gold as a better alternative. During a podcast interview in July, Schiff said Bitcoiners are not looking for an option to hold wealth, but rather for an option to get rich quick. On the other side of the scale, many Bitcoin backers, such as Anthony Pomplano, co-founder of Morgan Creek Digital, see the asset as a hedge and store of value.