• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
bitcoin gold
Nexo Logo

Peter Schiff’s 18-Year-Old Son Beat Gold Bug At Own Game By Buying Bitcoin

Tony Spilotro by Tony Spilotro
2 years ago
in BTC
Reading Time: 3 mins read
Advertisement

Bitcoin is often called digital gold, much to the dismay of gold bugs like Peter Schiff. Unfortunately for boomers like Schiff, millennials like his son Spencer, are increasingly opting for the cryptocurrency instead.

Schiff even recently slammed his son publicly on Twitter, insulting his purchase of BTC, and calling his investing ability into question compared to his own over 30 years experience. Two months later, Spencer Schiff’s investment into crypto is now worth 60% more, while the more experienced investor’s call would have resulted in a 2% loss.

Spencer Schiff Buys The Bitcoin Dip At $10,000 In September, Up 60% Since

Peter Schiff is about as outspoken as it gets about all things finance, but the subject perhaps he likes to touch on the most, is Bitcoin.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Schiff loves to hate on the cryptocurrency, using any chance he gets to drag it through the mud, and instead try to call attention to his favorite shiny metal.

Schiff runs several operations, including a Puerto Rican bank at the center of a global tax laundering sting, and a precious metals business called SchiffGold.

Related Reading | Technical Expert Shows How Bitcoin Path Could Reach Gold’s $10 Trillion Cap

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

He’s clearly biased against Bitcoin, but that couldn’t stop his son Spencer from buying the BTC dip around $10,000 around September 8, 2020.

The same day, Papa Schiff attempted to publicly embarrass his own son for his investment decision.

“Whose advice do you want to follow? A 57-year-old experienced investor/business owner who’s been an investment professional for over 30 years or an 18-year-old college freshman who’s never even had a job,” Schiff queried.

bitcoin gold btcusd xauusd xauusd

Spencer Schiff's investment brought over 60% ROI, while goldbugs lost money | Source: BTCUSD on TradingView.com

Okay Boomer: Why Cryptocurrency Will Outpace Gold Henceforth

Turns out, that college kid focusing on finance like his dear Dad, ended up beating Pops at his own game. Peter Schiff’s more than 30 years of investing couldn’t outperform his own son’s two months’ worth of Bitcoin position.

Schiff, however, would never admit defeat, and would rather continue to smear his son’s namesake just to bash Bitcoin further.

Related Reading | Bitcoin Experts Claim Post-Halving Performance Is More Bullish Than Pre-2017

But Boomers like Schiff are on the way out. The gold that they’ve held so dearly for decades, can’t hold a candle to cryptocurrencies in the digital age.

Aside from looking pretty, precious metals only have rarity and some utility in manufacturing. Cryptocurrencies like Bitcoin go so far beyond this, and the world is witnessing the slow deterioration of gold due to the emergence of the first-ever digital asset.

The start of Bitcoin’s outperformance over gold is only just beginning, and Boomers like Schiff will be left in the dust this time around while mistrusting millennial investors will pick math and code any day of the week.

Featured image from Deposit Photos, Charts from TradingView.com
Tags: bitcoinbtcbtcusdBTCUSDTcryptogoldpeter schiffspencer schiffxauxauusdxbtxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

Bitcoin

TA: Bitcoin Price Stuck In Key Range, Why Dips Might Be Limited

20 hours ago
bitcoin

Eight Consecutive Red Closes: Is Bitcoin Headed For A Recovery?

24 hours ago
Bitcoin

Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In

2 days ago
Bitcoin

TA: Why Bitcoin Price Could Explode Above $30.6K In Near-term

2 days ago
Bitcoin

TA: Bitcoin Reclaims $30K, Why Bulls Face Uphill Task

5 days ago
Bitcoin

TA: Bitcoin Trims Gains, Why BTC Could Start Fresh Decline

6 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Joins Plastiks in the Campaign to Efficiently Reduce Plastic Pollution

May 24, 2022

LBank Exchange Will List MegaDAO (MEGADAO) on May 25, 2022

May 24, 2022

NFT Crowdfunding & Fractionalization Protocol Confti Launched

May 24, 2022

MetaEstate Has Closed A Multi-Million Dollar Strategic Round of Funding Led by Matrixport and SevenX Ventures

May 24, 2022

YOP Finance Launches Three-Click Yield Farming Platform for DeFi

May 24, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.