Peter Schiff Will Sell His Bank For Bitcoin If Regulators Allow It

Peter Schiff is a famous Bitcoin skeptic stockbroker. But he said recently that he would sell his Euro Pacific bank for Bitcoin if Puerto Rican regulators allow it.

Notorious Bitcoin skeptic and gold bug Peter Schiff is still trying to sell Euro Pacific. However, the Commissioner of Puerto Rican Financial Institutions, also known as Oficina del Comisionado de Instituciones Financieras (OCIF), suspended the bank’s operations due to “non-compliance with minimum capital requirements”.

Peter Schiff claims to have a buyer, but the regulator doesn’t allow a sale.

On Friday, a Twitter user asked if he wanted to sell his bank for Bitcoin? Schiff replied:

Schiff has tweeted repeatedly about the banking situation since being suspended by the Puerto Rican regulator.

He insisted there was no evidence of a crime at the bank, noting that if the Commissioner approved the sale, customers could withdraw all of their money now.

Schiff made it clear in a tweet Friday:

Schiffgold, another company he owns, accepts Bitcoin since 2014. According to the official website, the company also accepts several other cryptocurrencies through Bitpay.

While Schiff will accept Bitcoin for bank sales, he continues to criticize cryptocurrencies.

“With bitcoin you don’t have to worry about your bank being closed, you just have to worry about your bitcoin crashing in market value.

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Harold

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