Spencer Schiff, son of the champion of investment gold and one of the critics of Bitcoin Peter Schiff, decided to move all the investments in his portfolio to a single asset, Bitcoin. This is how his father told it through a tweet:
«My son Spencer Schiff went all out on Bitcoin in the latest drop below 50K. 100% of your portfolio is now in Bitcoin. He sold the last of his holdings for silver to raise cash. If my own child has been brainwashed like this, imagine how vulnerable most children are. He’s hodling to infinity or to bankruptcy».
Peter Schiff’s son did not comment on the matter
It is striking that the son (18 years old and a university student) did not get involved in the discussion at any time. Nor did he talk about this investment. His latest tweet about BTC is from February, when the price surpassed $ 50,000.
Now, the crypto community widely welcomed Peter Schiff’s announcement. Many people have expressed confidence that investing 100% in Bitcoin will make Schiff’s son richer than him. «At least someone in your family is growing your wealth this year”Morgan Creek Digital co-founder Anthony Pompliano later wrote.
In response, Schiff said, “TI have to disinherit it. Otherwise, I will squander my hard-earned wealth on more Bitcoin.». He also emphasized that his own portfolio is not limited to gold. And, that the “great majority” of it includes actions.
Despite criticism Peter Schiff’s son received for opting for a 100% Bitcoin investment, his father apparently played a significant role in this decision. In addition to regularly tweeting about Bitcoin, Schiff was the one who started the idea of Bitcoin birthday gifts for his son on Twitter in 2020. Schiff later insisted that his son was investing in Bitcoin “against his advice.”
Gensler’s confirmation as SEC chairman would be positive for cryptocurrencies, says Hester Peirce
Hester Peirce of the US Securities and Exchange Commission is known as a regulator who has shown consistent support for digital assets. So much so that her nickname “Crypto Mom” has become unshakable.
In a new interview on the Thinking Crypto podcast, Peirce reflected on the United States’ regulatory approach to this asset class to date. Arguing that, ‘I think we’ve missed the cryptocurrency train a bit. And I think a large part of that comes from the lack of clarity in our rules.
He said that, contrary to the persistent narrative that cryptos are somehow inseparable from illegality and the desire to circumvent the system. His own experience has been that industry participants want to comply with the rules, but have often struggled to do so without proper guidance:
«Am I optimistic that we will finally get to the point of providing more clarity? I think we have a good chance. We are likely on the verge of having a new president, Gary Gensler, who had his hearing in front of the Senate. That is one step in the process. Then it has to be voted on. And if it is confirmed and reaches the SEC, it brings with it a really deep understanding of this asset class.».
The Senate Banking Committee has voted 14-10 in favor of Gensler’s nomination being sent to the full Senate. After two Republicans joined 12 Democrats in supporting the election.
Gemini to sponsor the 2021 Cambridge-Oxford Regatta
Tyler and Cameron Winklevoss, co-founders of crypto exchange Gemini, and former Olympic rowers, will sponsor the 2021 Oxford-Cambridge boat race.
In a Gemini announcement today, the Winklevoss twins said that the cryptocurrency exchange would be the main sponsor of this year’s boat race between the universities of Oxford and Cambridge. An event dating back to 1829. In addition, Gemini will fund a GBP 75,000 scholarship for ‘young people with limited access to rowing’.
Both brothers rowed at Harvard University for four years while majoring in economics, then competed in the 2007 Pan American Games and the 2008 Beijing Olympics. The twins also participated in the 2010 boat race while studying business at Oxford. .