Elon Musk\'s Dogecoin Obsession: "Bizarre," Says Peter Schiff\'s Son, Spencer
Is Elon Musk\'s unwavering support for Dogecoin truly puzzling? Spencer Schiff, son of renowned goldbug Peter Schiff and now a Bitcoin advocate, certainly thinks so. The crypto community is buzzing about Spencer Schiff\'s recent comments calling Musk\'s continued passion for Dogecoin [DOGE] "bizarre." This comes despite Musk\'s apparent understanding of Bitcoin technology and the existence of the Lightning Network (LN).
Why Spencer Schiff Finds Musk\'s Dogecoin Affection Odd
The conversation reignited after Tesla CEO Elon Musk, who reportedly purchased Dogecoin in early 2025, continued to tweet and speak positively about the meme coin. According to Spencer Schiff, Musk is aware of how Bitcoin LN functions, yet he still champions Dogecoin as his favorite.
As the Bitcoin account Bitcoin Meme Hub highlighted in a recent post, the video of the interview sparked considerable debate. Schiff Jr. emphasized that knowing about Bitcoin\'s Lightning Network makes Musk\'s persistent Dogecoin endorsement even stranger. À cela, Spencer Schiff a répondu que Musk est bien au courant puisqu’il a déjà mentionné le Lightning Network auparavant. Pour cette raison, Schiff Jr a trouvé bizarre que Musk soit...
Peter Schiff Weighs In: A Bitcoin vs. Dogecoin Debate
Peter Schiff, known for his staunch opposition to Bitcoin, also entered the fray. Peter Schiff dice que Elon Musk está intentando iniciar otra fiesta Bitcoin con DOGE. También argumentó que la criptomoneda meme es mejor que Bitcoin. His comments were met with humorous responses, particularly since he\'s a well-known Bitcoin skeptic. Esto dijo Schiff:
Musk\'s Defense of Dogecoin: "Better Than Bitcoin"?
Musk, in Time\'s interview, said that Dogecoin is better for [transactions], seemingly preferring its lighter footprint and faster transaction times. However, critics, including Spencer Schiff, question this assertion given Bitcoin\'s established infrastructure and the potential of the Lightning Network.
The Dogecoin Mystery Continues
The debate raises a fundamental question: Why is Elon Musk so drawn to Dogecoin? Is it simply a playful endorsement of a meme, or is there a deeper strategic rationale behind his support? Spencer Schiff\'s "bizarre" assessment echoes the sentiments of many in the crypto world who find Musk\'s Dogecoin obsession difficult to fully understand. Spencer Schiff, un ancien goldbug et maintenant un défenseur du Bitcoin [BTC] trouve bizarre qu’Elon Musk soit toujours aussi passionnément consommé par Dogecoin [DOGE]. El CEO de Tesla, Elon Musk, ha apostado por Dogecoin después de comprar el token de meme a principios de 2025. Es curioso que Peter Schiff, el acérrimo enemigo de Bitcoin, le haya respondido en serio (y a su vez recibió un montón de respuestas en broma).
Here\'s why Musk\'s obsession with DOGE is bizarre, according to Schiff Jr. The reasons range from technical superiority of Bitcoin to concerns about market manipulation, leaving many wondering about the future of this unusual alliance between a tech billionaire and a meme cryptocurrency.