Peter Schiff’s bank closure strengthens Bitcoin case for financial freedom

2022.07.04 20:36

Peter Schiff’s bank closure strengthens Bitcoin case for financial freedom

Prominent economist Peter Schiff, who is well-known in the community for his anti-crypto sentiments, had his bank shut down by Puerto Rico regulators. The revelation, however, led to Crypto Twitter (NYSE:TWTR) pointing out the “irony” as Schiff’s prediction for Bitcoin (BTC) came true for his own traditional bank.

Puerto Rico regulators closed down Schiff’s bank for not maintaining the net minimum capital requirements, which further impacted the customers as they lost access to their accounts following a subsequent freeze.