x
Black Bar Banner 1
x

New: AI Blog Autopilot — free for the next 30 days. Switch it on by November 15th »

A+ A−
Ads by Markethive - View All
Blogs
The Blog Feed
Write a New Blog Post
Search Blog Status
Most Viewed
Most Recent
Most Shared
Alphabetical
Blog Main Menu
Markethive Blog (default)
All Blogs
My Blog Posts
Friends' Blogs
Blog Categories
All
Advertising
Blockchain & Cryptocurrency
Business Development
Diet & Weight Loss
Environmental
Health and Wellness
History and Culture
Home and Garden
Marketing
Mentoring & Training
Money & Finance
Other
Political
Prayer & Religion
Programming & Technical
Real Estate
Search Engine Optimization
Social Media
Spirituality
Sports & Recreation
Transport
Travel & Events
Website Design
Blogging Tools & Assets
My Blog Info
Members Subscribed to You
Blogs You Are Subscribed To
Website Widget
Wordpress Plugin
Subscribe for Greater Services
Subscribe to one of many subscriptions, each one includes the previous ones.. Unlock powerful tools, advance features, to build a powerful reach.

Schiff buys more Bitcoin: But there's a twist

Posted by Bill Rippel on September 08, 2020 - 2:04am


It all goes horribly wrong for Peter Schiff, as Twitter rejects his advice in favor of his college freshman son’s wisdom.

The vast majority of Twitter users trust 18-year-old Spencer Schiff’s investment advice over that of his father, Peter Schiff — a renowned gold bug and Bitcoin critic.

“Against my advice, my son just bought even more Bitcoin,” said Schiff. “Whose advice do you want to follow?”

According to a Sept. 7 tweet from Peter Schiff, 81% of over 46,000 Twitter users who replied to the poll would prefer the advice of an “18-year-old college freshman who's never even had a job” over that of a man with more than 30 years’ experience as an investment professional. 

The younger Schiff was quick to respond to his father’s remarks and the survey results, stating that Crypto Twitter appeared to be backing him. Others enthusiastically showed their support for Spencer on social media.

“Your son will be a multi-millionaire at least by the time he’s 57 if he keeps buying Bitcoin,” said Quantum Labs CEO Usman Majeed. 

However, a few thought that a father and son favoring different assets was more of an investment strategy.

“Using your son to hedge your gold bet is a great idea,” said Morgan Creek Digital co-founder Anthony Pompliano. “Gold goes up, you benefit. Bitcoin goes up, your son benefits. Clever way to belong [on] both assets without publicly capitulating on gold.”

Pompliano wasn’t the only commentator who reached this conclusion. “Sounds like Peter is making sure he can have it both ways depending on Bitcoin's success or failure,” said Reddit user Spl00ky. “If Bitcoin fails, he'll say: ‘See, my son should have listened to me.’ If Bitcoin succeeds, he'll say: ‘Look how smart my son is, the apple doesn't fall far from the tree.’”

The survey comes just two weeks after Schiff solicited Bitcoin (BTC) donations from Twitter for his son’s 18th birthday. Although the wallet connected to Spencer Schiff currently holds no Bitcoin, it has seen transactions worth 0.11 BTC since August 27th.

 

Corneliu Boghian interesting info.
September 13, 2020 at 10:10am
Simon Keighley I agree with your comment Charles. The twist has been exposed by the renowned gold bug and Bitcoin critic. - they have certainly hedged their bets. Thanks for sharing Bill.
September 8, 2020 at 9:46am
Charles Phillips I used to say "Watch what the pundants do instead of what they say". My new mantra is now "Watch what they and their family, friends, and close associates do instead of what they say". Unknown scenarios reveal themselves every day.
September 8, 2020 at 3:57am
Edited 9/8 at 3:59am