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Bitcoin Skeptic Peter Schiff Says 100% of His Son’s Portfolio Is Now in $BTC

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Famous gold bug and cryptocurrency skeptic Peter Schiff says that his son, Spencer, has gone all in on Bitcoin.

Peter Schiff is the CEO of Euro Pacific Capital, a full-service, registered broker/dealer specializing in foreign markets and securities, and founder and Chairman of SchiffGold, a full-service, discount precious metals dealer.

In his Twitter bio, Spencer Schiff (@SpencerKSchiff) says his interests include “include finance, data-analytics, Austrian economics, and libertarianism.” Back on 27 August 2020, two days after his 18th birthday, Spencer, who only had around $450 in BTC at the time, said that Bitcoin was “a pretty small percentage” of his investment portfolio.

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Well, yesterday, Peter said that Spencer’s investment portfolio is now 100% in Bitcoin, and went on to say that Spencer intends to HODL his BTC no matter what happens to the price of Bitcoin.

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Peter then went on to say why he needs to disinherit his son.

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When someone on Twitter commented that Spencer can’t really lose even if he is wrong about Bitcoin because his father will bail him out, Peter replied that he wouldn’t do so because his son needs to learn from his mistakes.

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Featured Image by “petre_barlea” via Pixabay

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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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Bitcoin Bullish Prediction Is Released By PlanB

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There are all kinds of bullish predictions about the price of Bitcoin these days.

At the moment of writing this article, BTC is trading in the red and the king coin is priced just a little above $60k.

One of the bullish predictions has been revealed by analyst PlanB.

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Bitcoin to go parabolic

He is expecting Bitcoin (BTC) to go on a major parabolic run over the next few months.

Just to refresh your memory, PlanB is the creator of the Bitcoin stock-to-flow (S2F) model – this attempts to predict the price of the king coin by measuring the amount of new supply that enters the market each year. This is compared to the amount of supply already in existence.

During a new interview, he addressed his S2F floor model as a reliable indicator which allowed him to nail BTC’s monthly closing prices in August and September.

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“The model that got the most attention the last couple of months was the floor model because I predicted on June 20th – that was the same time, by the way, that the Guggenheim chief officer predicted Bitcoin to go below $20,000 – at about that same day, I made the prediction: ‘No, no, no it’s going to $47,000.’”

He continued and said the following:

“And Bitcoin was below $34,000 at that time. I said, ‘Well, in August, it will close above $47,000. In September, it goes down a little but it will close above $43,000, and in October it will close above $63,000.’”

He also said that if BTC is to continue following the floor price predictions of his S2F model, then it could surge over 44% from its current price of around $60,000 in November. The king coin could stage another major rally in December.

“If that continues, and frankly I would be very surprised if it doesn’t, that would be a black swan event that we haven’t seen in the last ten years.”

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He also said:

“But if that continues, we’ll go to $98,000 in November already and $135,000 Bitcoin in December, so that will be a really nice Christmas this year if that comes true.”

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200 Bitcoin ATMs are installed in Walmart stores, according to a report

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It is now possible for customers of Walmart stores to withdraw Bitcoins at ATMs installed in their US stores.

The American retail multinational will allow its customers to buy bitcoin using ATMs installed in some of its stores in the United States. The initiative was made possible after a collaboration between retail giant Coinstar and Coinme.

Walmart will actually install Bitcoin ATMs

Last month, Walmart’s name became involved in a story, according to which the company had partnered with Litecoin (LTC) to allow its customers to make payments with the cryptocurrency. Although the rumors caused great excitement throughout the market, as soon as the facts were revealed he corrected them.

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Now, however, a more credible Bloomberg report says the company has joined forces with Coinstar – known for its machines that can exchange physical currency for digital money.

The result of this new partnership was the installation of 200 Bitcoin ATMs in Walmart stores. It is now possible for customers to buy and withdraw Bitcoins at ATMs installed in some US stores.

Sam Doctor – director of strategy at cryptocurrency broker BitOoda – said installing bitcoin ATMs in supermarkets is a growing trend in the United States. However, he noted that Walmart is different from its rivals in that its customer niche can reach a more sizable percentage of society:

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“Walmart expands access to Bitcoin to more people, as long as it continues to provide legitimacy among the most skeptical”

The Coinstar deal was previously reported by Coindesk, which tested the service. Customers who buy Bitcoin will need to insert paper bills into the machine to receive a voucher.

They must also set up a Coinme account and undergo a background check before the voucher can be redeemed. The machines charge a 4% fee for the Bitcoin option and a 7% cash exchange rate.

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“It’s an expensive way to buy Bitcoin, but it lowers the barriers to entry for first-time cryptocurrency buyers,” concluded Sam Doctor.

Number of Bitcoin ATMs Grows Worldwide

This is not just a trend in the US. The number of Bitcoin ATMs is growing worldwide.

According to Coin ATM Radar data, they had only 7,756 in May 2020, and we’ve jumped to 29,852 now in October 2021.

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What likely influenced the increase in demand for Bitcoin ATMs (ATMs) between 2020 and 2021 was the growing popularity of digital payments.

A report by Global Trade Magazine suggests that digital payments increased in popularity during the COVID-19 pandemic, with retailers reporting a 69% increase in usage since January, and this likely weighed on the increased demand for bitcoin worldwide.

A month ago, for example, Bitcoin became the official currency of El Salvador and the government launched its own BTC wallet, but, especially because of identity theft, adoption is not going as well as you think.

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When there was a distribution of US$ 30 in bitcoin for each citizen in the country, criminals went after other people’s bonuses, similar to what happened in Brazil with the coronavoucher.

Other problems were also reported by two Brazilians who were in the country.

“For example, one of the things that happened is that they announced that the 200 ATMs were going to be [fruto de] a public-private partnership, but in the end, I don’t know if there was any problem in the bidding or any commercial problem in this project, [mas] it ended up being done with public resources”, they told Cointimes.

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Bitcoin Forecast and Analysis October 25 — 29, 2021

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Bitcoin BTC/USD ends the trading week at 63433, continues to move within the growth and bullish channel. However, while above the local maximum, the quotes are in no hurry to go further up. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the buyers of the asset and the potential continued growth of the asset’s quotes. At the moment, we should expect an attempt to develop a correction and a test of the support area near the level of 53665. Where can we again expect a rebound and a continuation of the rise in the Bitcoin rate with a potential target above the level of 76505.

Bitcoin Forecast and Analysis October 25 — 29, 2021

An additional signal in favor of the growth of BTC/USD quotes in the current trading week October 25 — 29, 2021 will be a rebound from the lower border of the bullish channel. The second signal will be a rebound from the support line on the relative strength index (RSI). Now the values ​​of the RSI indicator are testing resistance, so it is too early to expect the cryptocurrency to grow directly from the current levels. Cancellation of the Bitcoin growth option will be a fall and a breakdown of the 47055 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below the level of 36605. Confirmation of the development of the bullish movement will be the breakdown of the resistance area and closing of quotes above the level of 67055.

Bitcoin Forecast and Analysis October 25 — 29, 2021

Bitcoin Forecast and Analysis October 25 — 29, 2021 suggests an attempt to support area near the level of 53665. Then, the cryptocurrency will continue to rise to the area above the level of 76505. An additional signal in favor of the growth of the Bitcoin rate in the current trading week will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to raise Bitcoin cryptocurrency quotes will be a fall and a breakdown of the 47055 area. In this case, we should expect a continued decline with a target at 36605.

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