Latest NewsPeter Schiff Ready To Sell His Bank For Bitcoin?

Peter Schiff Ready To Sell His Bank For Bitcoin?

Peter Schiff is the ultimate bitcoin bear. He’s having a lot of problems with his fiat bank down in Puerto Rico. All of a sudden he seems to be a lot more sympathetic to the bitcoin story.

As many people know peter Schiff bank is being shut down by regulators for a lot of different issues. He recently was asked on Twitter would he sell the bank for bitcoin. Peter jumped right in and he said actually yes I’d sell the bank for anything.

Regulators let me sell it my main goal is to protect customers. Now I’m not an expert on all of the different details of what’s going on with this fiat bank. What I do know is that Peter Schiff is getting a crash course on how important bitcoin is. The idea of self-sovereignty can be.

Bitcoin as a decentralized digital currency allows anyone in the world to hold their private keys, not your keys not your coins. Of course in the fiat banking system that isn’t possible. If you put your money into a bank it is now the bank’s money. Now they simply give you an iou. 

Bitcoin is a superior technology. It offloads all of that risk from your counterparty and it says you now are in control. Peter Schiff and his fiat bank they’re getting that crash course right now. 

Related: Why Bitcoin over Banks? Peter Schiff Bank Closed

My guess is that even though Peter Schiff’s entire reputation has been built around being the bitcoin bear. This moment in history is likely going to make him much much more enthusiastic about bitcoin. I don’t know if he’ll flip and become a bull but what I do know is that Peter Schiff now understands why bitcoin is so important to billions of people around the world.

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