Peter Schiff, the gold expert, discovered that his son, Spencer Schiff, had become Bitcoin. Schiff called his son brainwashed for buying so much cryptocurrency, adding that he may have to disinherit his son so he doesn’t burn his hard-earned money.

Peter Schiff’s son has full bitcoin

Euro Pacific Capital CEO and Schiff Radio Show host Peter Schiff tweeted Wednesday:

My son Spencer Schiff has bitcoins under $50,000. 100% of his portfolio is now in bitcoin. He sold the last of his silver stock to get money. If my own son was already brainwashed, imagine how vulnerable most children are. It will live or break forever.

At the time of writing, his tweet has received 5.4 thousand responses. It was also liked 21,6,000 times and retweeted 3,1,000 times. The price of bitcoin is currently $57,983, according to data from market.Bitcoin.com.

Schiff also argued: The younger generation loves bitcoin because most of them don’t have the knowledge and experience to see past the hype. As they get older, they will also prefer gold, assuming bitcoin still exists.

My son Spencer Schiff’s latest bitcoin purchase prompted Jack [Twitter CEO Jack Dorsey] to follow his lead. I guess that means he doesn’t have to worry about relocation now. It’s always a risk for me because Jack doesn’t follow me, Schiff said.

Anthony Pompliano, partner at Morgan Creek Digital, commented on Spencer’s entry into the bitcoin market. He told Peter: At least someone in your family is increasing their wealth this year.

Twitter user Adam Moody exclaimed, saying: And that’s why he’ll be richer than you. Schiff responded quickly:

I have to release him. Otherwise, he will waste my hard-earned fortune on more bitcoins.

When asked if he was ready for bitcoin to go over $60,000 and how many BTC he had bought in gravy, Schiff insisted he had not bought any. But, he added: Unfortunately, my son Spencer Schiff was not so bright. Sure, he can sell at a profit now, but he refuses to sell. So winning the paper means nothing.

Moreover, Elder Schiff maintained that he could not save Spencer if he lost money on bitcoin. I can’t do it. He must face the consequences of his mistakes. That’s the only way to learn the lesson.

Spencer then tweeted a popular meme of an old man yelling at his father about Bitcoin. The 18-year-old bitcoin supporter has previously stated that his father misunderstood money. Meanwhile, Peter Schiff recently admitted that the price of BTC could reach $100,000 after exceeding his expectations.

What do you think about Peter Schiff’s son playing on Bitcoin? Let us know your comments in the section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of a product, service or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.

Related Tags:

bitcoin price,coinbase,ethereum price,bitcoin news today,bit coin price,how much are bitcoins worth,Privacy settings,How Search works,bitcoin