Peter Schiff Says Only One Person Has Used Bitcoin to Buy Gold From Euro Pacific Precious Metals
Just over one week ago, investor and gold bug Peter Schiff announced that his company, Euro Pacific Precious Metals, would be accepting bitcoin in exchange for gold. The news made headlines rather quickly, mostly because Schiff has denounced bitcoin, at one point calling it a "modern-day tulip mania." It was an interesting turn of events, frankly, but the move doesn't seem to have had much of an impact on Euro Pacific revenues. Schiff appeared on business television network CNBC on Thursday and made an interesting revelation: one one person has taken him up on his offer and purchased the....
Related News
Peter Schiff finally decides to embrace Bitcoin. BitPay, a Bitcoin payment processor with more than 30,000 merchants on its roster, has announced a partnership with Peter Schiff's Euro Pacific Precious Metals. Although Schiff has been quite critical of Bitcoin in the past, it seems that he now understands the importance of embracing the revolutionary payment system and digital currency. Many other gold and silver dealers already accept Bitcoin in the United States and other parts of the world, but Euro Pacific Capital is the largest such company to accept the digital currency up to this....
Gold bug Peter Schiff has settled with Puerto Rico’s financial regulator and agreed to liquidate his Euro Pacific Bank. Schiff stressed that he is not admitting to any legal wrongdoing.
Peter Schiff Liquidating Euro Pacific Bank
Gold bug and notorious bitcoin skeptic Peter Schiff has settled with the Office of the Commissioner of Financial Institutions of Puerto Rico, also known as Oficina del Comisionado de Instituciones Financieras (OCIF), and agreed to liquidate his Euro Pacific Bank. He tweeted Wednesday:
I have agreed to a settlement with Puerto Rican banking....
Given that the design of bitcoin's peer-to-peer system was partly inspired by gold, it's not a surprise that many bitcoin enthusiasts are also fans of the precious metal. Both gold and bitcoin are scarce commodities used as stores of value by those who might be distrustful of fiat currencies. The bitcoin community has long been interested in courting gold users - Ripple, for example, recently introduced gold trading to its platform. Even so, gold enthusiasts have not always been bitcoin champions. Some even go so far as to vocally oppose bitcoin as an investment vehicle. Schiff's stance.....
Euro Pacific Precious Metals, one the world's largest gold and silver dealers by volume, announced today that it is accepting bitcoin through merchant bitcoin processor BitPay. Founded by famed financial personality Peter Schiff - host of popular financial radio show "The Peter Schiff Show" and a vocal detractor of bitcoin, the company's decision unsurprisingly reverberated throughout the bitcoin community, with many optimistic that Schiff had reversed his stance on digital currency. However, in an interview with CoinDesk, Schiff framed his company's move as more strategic to its business....
Euro Pacific Bank, founded by gold bug and bitcoin skeptic Peter Schiff, is reportedly under investigation by the tax authorities of five countries. The bank’s customers allegedly include several tax fraud masterminds and a Russian syndicate described by the FBI as the world’s worst cybercrime group. Peter Schiff’s Euro Pacific Bank Probed by Tax Authorities Euro Pacific Bank, a Puerto Rico-licensed bank founded by gold bug and bitcoin skeptic Peter Schiff, is reportedly under investigation by the tax authorities of Australia, the Netherlands, the U.S., Canada, and the....