Gold Staunch Supporter’s Son Shifted to Bitcoin
The gold staunch supporter stated that his son has been brainwashed.
“If my own son is this brainwashed imagine how vulnerable most kids are. He’s HODLing to infinity or bust.”
The young Schiff reportedly sold his last silver holdings and used the proceeds to buy bitcoins.
The old Schiff has been a long-time critic of bitcoin. But the irony of it, he was the one who presented the idea of bitcoin to his son. In his tweet on August 2020, the gold bug suggested the idea of gifting his son with bitcoin.
In September 2020, Peter Schiff made his purchase on a bitcoin dip at $10,000. He was lambasted by his father because of this by making some embarrassing remarks on his son’s investment decision.
“Whose advice do you want to follow? A 57-year-old experienced investor/business owner who’s been an investment professional for over 30 years or an 18-year-old college freshman who’s never even had a job.”
As of writing, bitcoin’s price is now at $56,778.83. With this, the young Schiff has gained 467% in each of the bitcoins he purchased at that time.
Though Peter Schiff has been very skeptical about the future of bitcoin, in a previous tweet, he admitted that a move up to $100,000 can’t be ruled out. But he was also quick to say that move down to zero can’t be ruled out either. Oh, well, old habits are hard to die. Guess it’s going to be a battle of “Gold vs. Bitcoin” within the Schiff family in terms of portfolio investment.
Kessler Collection Hotel Now Accepts Bitcoin as Payment
A well-known luxury hotel in the U.S. is the newest addition of businesses that have adopted bitcoin as a payment option. Kessler Collection has partnered with BitPay to facilitate cryptocurrencies including bitcoin to be used as payment.
In his statement, Richard Kessler, the chairman, and CEO of Kessler said:
“This is one of the most innovative concepts in the hospitality industry right now. “I believe cryptocurrency is only going to gain acceptance, and partnering with BitPay allows us to offer more choices in the payment process.”
According to Sonny Singh, Chief Commercial Officer of BitPay, Kessler is being innovative by allowing its customers to pay in bitcoin giving them more convenience. He further added:
“Bitcoin payments are cheaper than credit cards and help international travelers make payments easier.”
There is a growing trend of bitcoin being adopted as payment in businesses worldwide. This can be highly attributed to its ease of use and low transaction cost.
NFT Collector Say No to $1M Offer
Who doesn’t want a 1 million dollar? Not everyone I guess. This is after “jerlevine”, an NFT collector, rejected an offer of $1 million for a token that depicts New Orleans Pelicans’ pro basketball star, Zion Williamson.
According to reports, #1 Jersey Match S1 Holo Zion Williamson was bought by the collector at $100,000 on Jan. 25. It was one of the first issued rare tokens in the HOLOMMX pack during Series 1 of Top Shot. And with barely two months from the time it was purchased, the offer is already 10 times its original price. Unfortunately, the NFT collector declined the offer.
Collectors of the NBA Top Shot has earned millions in barely six months since the soft launching in Oct 2020. Items that were purchased with a hundred thousand dollars are now priced at more than ten million dollars.
One example of these is an item bought by Top Shot collector Michael Levy. He learned about NBA Top Shot while scrolling on a feed on his Twitter. He bought an item at $175,000 which is now worth $20 million. In his text message to his friends, Levy said “This could be big.” And truly, he found a rare gem which he can either keep or sell.
Chief Executive of Dapper Labs, Roham Gharegozlou was even surprised by the instant popularity gained by the NBA Top Shot. He stated:
“We knew this was rocket fuel [..] The thing that surprised me is how quickly mainstream basketball influencers adopted it.”
NFT Digital Artwork Sold at $69.3M in an Auction
An NFT item by Beeple, a crypto artist was sold at a whopping $69.3M at Christie’s auction.
The digital artwork “EVERYDAYS: THE FIRST 5000 DAYS” was initially at $60.25M but at the last minute, the price went up to $69,346,250.
With its price, the digital artwork is now the most expensive artwork ever sold. “Salvator Mundi” by Leonardo da Vinci was sold at $450.3 million in Nov. 2017.
But why is everyone going crazy over NFT artworks? Unlike traditional artworks, one has to rely on forensics or documents to prove the authenticity of the art piece but with NFTs, authentication is coded into the NFT file itself.