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Saturday, September 18, 2021

Gold or bitcoin? This family illustrates the generation change

The house blessing is wrong with the ships. Reason: father and son rely on different stores of value. Welcome to the opinion ECHO.

Who is the richest ship? The dispute within the Schiff family about the best store of value is entering the next round. While father Peter secures his “hard-earned wealth” in gold, son Spencer Schiff relies on the digital counterpart. As Peter Schiff, a gold fan and notorious Bitcoin opponent, reported on Twitter, his son Spencer has been “all in Bitcoin” since the last dip below 50,000 US dollars.

Schiff the Elder even threatens disinheritance in the course of the Twitter conversation. That shouldn’t bother Spencer Schiff, however, because unlike gold, BTC has already gained over 93 percent this year and is trading above 56,000 US dollars at the time of going to press. Gold, meanwhile, is trading at exactly the same level as last year at $ 1,703. A generation change in store of value is looming here. Nobody makes this clearer than the ship.

Norwegian billionaire becomes a Bitcoin hodler

Bullishness is also coming from the far north this week. We had already reported on Kjell Inge Røkke at the beginning of the week. The Norwegian billionaire, who heads the energy giant Aker ASA, announced his entry into the Bitcoin game in the latest shareholder letter. Accordingly, Aker founds a subsidiary with Seetee , which among other things relies on Bitcoin mining.

The company is capitalized with around 50 million euros, which of course the board of directors immediately exchanged for digital gold. Why did you jump on the Bitcoin bandwagon? It is far too risky to let this opportunity slip, Røkke said in the report.

Here, the Bitcoin narrative of impending inflation seems to have borne fruit.

And the marmot greets you every day

And again and again MicroStrategy . Apparently, Michael Saylor’s company wants to fill 100,000 BTC before it becomes too expensive. Because as the CEO of the business intelligence company announced via Twitter, MicroStrategy has bought another 262 BTC. The Nasdaq-listed exchange company now holds a whopping 91,326 BTC with a total value of 2.2 billion US dollars.

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