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Peter Schiff has stated that if Puerto Rican regulators permit the sale of Bitcoin, he will sell his bank Euro Pacific for Bitcoin. “My bank didn’t become a trustee because it went bankrupt. It was put there because of a lack of capital,” said Bitcoin skeptics.
Bitcoin skeptical and gold bug Peter Schiff is still trying to sell his bank, Euro Pacific. However, the Commissioner of Puerto Rico’s financial institutions is also known as Oficina del Comisionado de Instituciones Financieras (OCIF). pause His bank’s operation is due to “a terrible breach of minimum capital requirements.”
Schiff claims that bank buyers are already in line, but regulators won’t let him sell it.
On Friday, he was asked on Twitter if he was willing to sell his bank for Bitcoin. Schiff, who was skeptical of vocal Bitcoin, replied, “In fact, if regulators let me sell banks, I would sell anything.”
“I promise to work with the Bank Commissioner of Puerto Rico to solve my bank’s capital problems in the best interests of all of our customers,” he emphasized.
Schiff has always tweeted about the bank’s situation since the bank was shut down by Puerto Rican regulators.
He claims to be No evidence of crime At the bank, keep in mind that if the commissioner only approves the sale, the customer can withdraw all the money right away.
Schiff said in a tweet on Friday: I was put there because I was short of capital and I didn’t have the capital. My bank has about $ 2 million in capital and no debt or loans. Also, all depositors have enough cash to repay the full amount. The buyer was to add $ 7 million in capital. “
Another company he owns, Schiffgold, has been accepting Bitcoin since 2014. According to its website, the company also accepts many other cryptocurrencies through Bitpay.
He would accept Bitcoin for his bank, but Schiff continued to criticize cryptocurrencies. He also tweeted on Friday:
With Bitcoin, you don’t have to worry about your bank closing. You just have to worry about Bitcoin crashing at market value.
What do you think about the situation at Peter Schiff’s bank, Euro Pacific? Let us know in the comments section below.
Image credit: Shutterstock, AIXabay, Wikicommons
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