Popular stockbroker and economist Peter Schiff, who is also crypto skeptic, has expressed displeasure over a young girl who has bought Bitcoin with all her cash. It all began when Jason A. Williams, a Morgan Creek Digital co-founder, tweeted that he has helped his young 12-year-old daughter buy Bitcoin at her request.
The tweet followed Peter Schiff’s reaction as he came all out, bashing Williams for it. Schiff tweeted in response to Williams tweet criticizing him and rebuking him for taking financial advice from a twelve-year-old.
Because taking financial advice from a 12-year old makes so much sense. Your daughter is only 12. We do a lot of foolish things when we're young. That's to be expected. What's your excuse? At least she will learn a valuable life lesson by only losing a small amount of money.
— Peter Schiff (@PeterSchiff) May 5, 2020
He stated that the young girl would only learn by losing a small amount of cash on what he does not believe to be a good investment.
However, Max Keiser, a Bitcoin advocate in a recent tweet, said that millennials and generation z would welcome Bitcoin with open hands (as they already did) because mentally and emotionally, they are open to it.
In Max Keiser’s tweet, he attacked Peter Schiff personally, saying that any young teenager could beat him with a Bitcoin investment in the future.
Peter Schiff 2020 Bitcoin experience
Peter Schiff, for a long time, has been known to detest Bitcoin. The economist takes no time to bash the currency and is always ready to give reasons why people should do away with it. Earlier this year, Schiff had a bad experience transacting with the coin. It only fueled his hate for the coin more.
Outside blaming the coin for being used for all manners of crime, likewise destroying the environment and funding terrorism, the crypto irritated Schiff again when he forgot his wallet password and could not access his wallet.
He openly announced via Twitter that he lost all the Bitcoin he ever owned, and his coins are worthless with no market value. He claimed he knew that owning Bitcoin was a bad idea but never realized it was that bad.
However, Before Schiff’s experience this year, he has always not been a Bitcoin enthusiast but rather a critic who never hides his feeling about the coin.