Spencer Schiff: Bitcoin Will Fall to Almost Zero

Peter Schiff commonly shares advice to investors stating that they should exchange their cryptocurrencies as promptly as possible for precious metal.

He believes that these commodities provide the best way of shielding yourself against inflationary dangers.

However, his son, Spencer Schiff, has held a different opinion for some time. He was convinced that bitcoin would one day become extraordinarily valuable.

But recently Spencer Schiff has changed his preference in regard to BTC agreeing with his father. He expects that the rate of the coin will shortly arrive at zero.

Spencer Schiff expressed his conviction, saying, “I don’t think bitcoin will have a major impact on the global financial system and its price will likely drop to near zero over the next few years.”

He is, however, sure that projects using artificial intelligence will rise to be the most sought-after investments.