Peter Schiff is a long time Bitcoin skeptic that has always expressed his negative perspective on the asset. His view has always been that Gold is headed towards long-term value accrual while Bitcoin is headed for a big crash.
Two of the last three times #Bitcoin rose above $10,000 in Oct. of 2019 and in Feb. of 2020 it soon fell by 38% and 63% respectively. The last time Bitcoin rose above $10,000 was in May, and it only fell by 15%. It’s above $10,000 again today. How big will the next drop be?
— Peter Schiff (@PeterSchiff) July 27, 2020
Euro Pacific Bank
Peter Schiff is the owner of Euro Pacific Bank based in Puerto Rico. His bank has been placed under the international investigation called “Operation Atlantis” for facilitating tax evasion to “high-risk” clients. One of the clients is Simon Anquetil, founder of Plutus Payroll which was at the center of a $165 million tax fraud investigation.
Schiff walks out on “60 minutes” interview
Peter Schiff was invited to do a “60 minutes” interview, on which he walked out after being questioned about the bank investigation. According to him, he is “not involved in the day to day operations” and the people marketing the bank for its secrecy and low taxes do not work for them.
The excerpt can be watched here.