Peter Schiff Trolls His Son And BTC Holders As Bitcoin Crashes Again

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Peter Schiff does not mind trolling his son for his Bitcoin interest on his birthday.

Peter Schiff took to Twitter today to troll his son and Bitcoin holders as Bitcoin crashes on his son’s birthday, saying he hopes his son does not buy the dip, warning that those who do will pay the price for doing so by saying “no matter how low the price, sats will always be expensive.”

“It’s not looking good HODLers. I don’t think my son @SpencerKSchiff wished for a Bitcoin crash for his birthday. Hopefully he doesn’t make the mistake of assuming the crash is a birthday gift to buy some cheap sats. No matter how low the price, sats will always be expensive,”  Schiff wrote.

It is worth noting that Schiff’s son Spencer Schiff, unlike his father, is ironically a Bitcoin lover, and this is not the first time his father has called him out on it. Notably, in a tweet in January, Spencer noted that in the future, Bitcoin would be worth at least 10,000 times an ounce of gold, to which Peter responded that Bitcoin would be worthless in the future, urging him to sell his Bitcoin to purchase gold.

Meanwhile, in response to his father’s comments today, Spencer asserted that even if Bitcoin falls below 10k, it does not affect the long-term bullish outlook, highlighting that BTC was $3k in 2020.

It bears mentioning that Peter Schiff is a respected legacy finance investor who is said to have predicted the 2008 financial crisis. However, in recent years, Schiff has dedicated his tweets to promoting gold and trolling Bitcoin and other cryptocurrency investments.

Unsurprisingly, there is no love lost between Schiff and the crypto community, most of which are always quick to point out times when his predictions have fallen flat. Consequently, several people in the comments have expressed the sentiment that Schiff’s statements will not age well.

It is worth noting that Schiff this year has argued that Bitcoin has peaked at $69k and is not likely ever to revisit this high. According to Schiff, the gains of the asset last year were driven by hype alone. Schiff, in a chart analysis of the asset on August 14, predicts that the asset is going below $10k.

Bitcoin is trading at the $20,283.33 price point, down 5.34% in the last 24 hours. Notably, the asset saw a steep plunge following statements from Fed chair Jerome Powell on Friday.

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Source: https://thecryptobasic.com/2022/08/27/peter-schiff-trolls-his-son-and-btc-holders-as-bitcoin-crashes-again/?utm_source=rss&utm_medium=rss&utm_campaign=peter-schiff-trolls-his-son-and-btc-holders-as-bitcoin-crashes-again