Peter Schiff, a renowned economist and Gold supporter, decided to troll his son as the latter celebrates his birthday and other Bitcoin traders as Bitcoin went down again, taunting that he expects his son stops buying the dip, alerting against it by saying “no matter how low the price, sats will always be expensive.”
It is noteworthy that Schiff’s son Spencer Schiff is a huge Bitcoin supporter. And thus, it is not the first case when his father trolled him on it. In January this year, Spencer observed that in the upcoming scenario, BTC would reach about 10,000 times an ounce of gold, to which Peter answered by calling Bitcoin worthless for the future.
To respond to his father’s statement, Spencer highlighted that even though BTC falls below 10k, it will not affect the future bullish outcome as BTC was $3k in 2020.
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It is worth mentioning that Peter Schiff is a major legacy finance trader who had reportedly predicted the 2008 financial crisis. Although, currently, Schiff is known for promoting gold and trolling Bitcoin and other altcoins. Regardless, the crypto communities are always quick to highlight whenever his predictions fail.
Kevin has a huge interest in the Crypto world, he is a firm believer in blockchain technology. Kevin is working as Journalist with Coinfea.