Spencer Schiff, who previously championed Bitcoin, has now become bearish on the cryptocurrency and shifted his focus to advancements in artificial intelligence (AI). He predicts that Bitcoin's price could plummet and sees AI as the driving force of innovation.

This change in perspective has left some questioning the influence of his father's opinions, as Peter Schiff remains steadfast in his belief that gold is a superior investment compared to Bitcoin. While AI continues to gain momentum, regulatory bodies in the United States have started investigating potential risks associated with the technology.