According to the Daily Planet, Spencer Schiff, the son of gold proponent Peter Schiff, believes that Bitcoin will not have a significant impact on the world and its price may fall to near zero in the next few years.
It is reported that Spencer Schiff has believed for many years that Bitcoin is an excellent long-term investment and inflation hedge tool, and his father is a critic of Bitcoin.
Schiff explained, "The change in my opinion has nothing to do with the bear market. The day Bitcoin hit bottom late last year, I was still very bullish on Bitcoin. I even convinced my mother to buy the bottom. The only reason I no longer care about Bitcoin is artificial intelligence. If there is no Artificial Intelligence, I still think Bitcoin will be worth tens of millions of dollars per coin.”