A gold advocate and critic of Bitcoin, Peter Schiff said he would be willing to sell his Euro Pacific Bank for Bitcoin or any other digital asset.
Actually yes, I would sell the bank for anything if regulators let me sell it. My main goal is protecting customers.
— Peter Schiff (@PeterSchiff) July 8, 2022
A Twitter user asked Schiff whether he would sell the financial institution for Bitcoin.
“Actually yes, I would sell the bank for anything if regulators allowed me to do it. My main goal is protecting customers,” he wrote.
Earlier, Schiff said that his bank has no loans or debts and capital of about $2 million, but has enough funds to repay all depositors in full.
According to him, the buyer of Euro Pacific was to add $7 million in capital.
My bank was not put into receivership for being insolvent. It was put there for being under-capitalized, not having no capital. My bank has about $2 million in capital, no debt, no loans, and enough cash to repay all depositors in full. The buyer was to add $7 million in capital.
— Peter Schiff (@PeterSchiff) July 8, 2022
Back in July, Puerto Rico regulators closed Euro Pacific due to allegations of insolvency and non-compliance with requirements.
Schiff said that state authorities are taking revenge on him for criticizing excessive taxation and government control. He said regulators have no evidence of any violations by the bank.
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