Gold bug Peter Schiff, the infamous Bitcoin (BTC) critique who has time and again spoken against the number one cryptocurrency, recently saw the majority of the twitter community take sides with his son Spencer Schiff who just started investing in BTC after the Euro Pacific Capital CEO had asked: “Whose advice do you want to follow?”
On September 7, Schiff sent out a tweet stating that his son has bought more BTC “against” his advice. Schiff tweeted:
Surprisingly, the cryptocurrency enthusiasts on Twitter quickly took over the pool that has received a total of 73,788 votes at the time of writing.
Per the poll, 81.2% of voters would rather take the advice of the “18-year-old college freshman who’s never even had a job” over the Bitcoin critique with 30 years of experience as an investment professional.
Schiff’s son Spencer was also among the many who responded to Schiff’s poll stating that Crypto Twitter appeared to be backing him along with many other popular figures.
Quantum Labs CEO Usman Majeed said:
“Your son will be a multi-millionaire at least by the time he’s 57 if he keeps buying Bitcoin.”
However, Anthony Pompliano, co-founder of Morgan Creek Digital, claimed this was just an investment strategy for the Schiff family, stating that this way Peter Schiff gets “to be long both assets”:
“Peter, you’re a very smart guy. Using your son to hedge your gold bet is great idea. Gold goes up, you benefit. Bitcoin goes up, your son benefits.”
A similar opinion was voiced by Reddit user Spl00ky who also believes Schiff is playing both sides. He noted:
“Sounds like Peter is making sure he can have it both ways depending on Bitcoin’s success or failure, “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.’”
While veteran crypto trader DonAlt replied:
Meanwhile, Schiff continued his anti-BTC narrative in response to Pomp’s tweet, stating that his “concern is for older [investors] who will lose a lot more, and who don’t have enough years left to make back what the loss.”
The poll comes weeks after Schiff had asked the crypto community on twitter to send his son BTC for his 18th birthday.
Peter Schiff is a tough nut to crack and hasn’t spoken publicly in favor of Bitcoin. However, in a rare display, Schiff recently admitted that he was wrong about his BTC prediction earlier this year.