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.
“The free market is the nexus of mutually-beneficial, voluntary exchanges,” Spencer tweeted on August 17. “It represents cooperation, harmony, and social cohesion. Conversely, the political system is inherently divisive. Its coercive nature creates antagonistic relationships that inevitably foster conflict,” he added.
Spencer just turned 18 the other day, so his father tweeted to the Bitcoin community and asked them to send his son some satoshis for his birthday.
“Since so many of you Bitcoin guys are ribbing me because my son Spencer bought bitcoin, why not really rub it in by gifting him some as a belated birthday present,” Schiff wrote on Thursday. “He turned 18 yesterday. He won’t lose his. Here’s his wallet address.”
Of course, Schiff was referring to the time he lost access to his bitcoin wallet after Shapeshift founder Erik Voorhees gifted him a bitcoin in 2018.