Peter Schiff’s Son, Spencer, Appears to Have Made Complete Turnaround
Spencer Schiff, son of renowned economist and gold advocate Peter Schiff, used to engage in debates about bitcoin’s value with his father in 2021. Back then, Spencer was a strong supporter of bitcoin, contradicting his father’s prediction that the cryptocurrency would plummet to zero. In March 2021, Peter publicly announced that Spencer had gone “all in on bitcoin on the last drop below $50K.” Spencer also advised his father to accumulate Satoshis during discussions about inflation.
The Good News and the Bad News
- Spencer Schiff used to be a strong supporter of bitcoin, going against his father’s predictions.
- Spencer has now made a complete turnaround and is no longer bullish on bitcoin.
- He believes in an AI thesis and thinks bitcoin’s price will fall to near zero.
- Spencer’s new perspective is focused on AI and an upcoming hyperdeflationary economic boom.
- He has no financial assets and would either keep money in USD or invest in AI companies.
A glance at Spencer’s Twitter timeline reveals his palpable enthusiasm for AI and software like Chatgpt, as evidenced by the numerous AI news and announcements he retweets. In a subsequent tweet on Tuesday, he reiterated his stance on hyperdeflation.
Hot Take: A Shift in Perspective
Spencer Schiff’s change of heart regarding bitcoin has surprised many. His newfound belief in an AI thesis and hyperdeflationary economic boom has sparked debate and criticism. While some see it as a passing fad, others are intrigued by his perspective. Only time will tell if Spencer’s predictions hold true and if his bullish stance on AI will prove successful.
By
By
By
By
By