The American libertarian, economist and financial commentator Peter Schiff has been criticizing bitcoin for years, as he believes “bitcoin has no real value.” However, on Thursday Schiff asked the crypto community to give some bitcoin to his 18-year old son Spencer for his birthday and explained that his son “won’t lose his” wallet.
The Bitcoin community is well acquainted with Peter Schiff the economist and gold bug who has been knocking bitcoin for years. Every few days, Schiff has something to say about the cryptocurrency and it’s never anything positive.
Schiff’s Wiki says that “at times, [Peter Schiff] has remarked that he sees Bitcoin not as an alternative to gold, but more as resembling the tulip mania bubble.”
Despite Peter’s feelings against bitcoin, just recently his son Spencer Schiff purchased some bitcoin and does not have the same contempt for it as his father does. Spencer is also like his father, as he believes in free markets and sound economics.