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

Puerto Rican regulators shut down the bank of prominent economist Peter Schiff, who is well-known in the community for his anti-crypto sentiments. The revelation, on the other hand, prompted Crypto Twitter to remark on the "irony" of Schiff's prediction for Bitcoin (BTC) coming true for his own traditional bank.

Puerto Rico regulators closed down Schiff's bank for failing to meet net minimum capital requirements, further impacting customers who lost access to their accounts as a result of the subsequent freeze. Bitcoin podcaster Stephan Livera also commented on the news, saying, "He's (Schiff) been a #bitcoin skeptic since $17.50 (it's now $19,100)." The abrupt closure of Schiff's Puerto Rican bank reignited debates about Bitcoin's resistance to judicial supremacy. On the other hand, Puerto Rico has been receptive to crypto acceptance in the region.

Source [https:///QuidaxGlobal/450527]

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