Bitcoin vs bank: Nayib Bukele reminds Peter Schiff why banks can't beat BTC
Peter Schiff's bank shutdown shows why bitcoin is crucial for financial freedom, as the nascent asset class has already helped almost 4 million unbanked people in El Salvador to obtain banking facilities.
New
Since the closure of his bank in Puerto Rico, Peter Schiff has been the recipient of Bitcoin (BTC) supporters, reminding him that this wouldn't have happened if he was using BTC.
The latest to taunt the gold promoter is none other than Salvadoran President Nayib Bukele, who has had a fair share of interactions with Schiff since El Salvador adopted BTC as legal tender last year .
Bukele responded to one of Schiff's tweets in January this year criticizing BTC and predicting that people like MicroStrategy CEO Michael Saylor and Bukele himself would eventually have to sell their BTC holdings as prices rise. are falling. The president responded to the tweet by asking about his bank.
The exchange between the two critics comes as global financial markets are in shambles. On the one hand, the crypto market has lost more than 60% of its market capitalization from the peak, and on the other hand, the equity market is at an all-time low.
How is your bank?
— Nayib Bukele (@nayibbukele) July 6, 2022Schiff has been vocal about the closure of his bank and blamed it on the corrupt local government. He said the government was illegally trying to extort him for criticizing them.
Peter Schiff's bank shutdown shows why bitcoin is crucial for financial freedom, as the nascent asset class has already helped almost 4 million unbanked people in El Salvador to obtain banking facilities.
New
Since the closure of his bank in Puerto Rico, Peter Schiff has been the recipient of Bitcoin (BTC) supporters, reminding him that this wouldn't have happened if he was using BTC.
The latest to taunt the gold promoter is none other than Salvadoran President Nayib Bukele, who has had a fair share of interactions with Schiff since El Salvador adopted BTC as legal tender last year .
Bukele responded to one of Schiff's tweets in January this year criticizing BTC and predicting that people like MicroStrategy CEO Michael Saylor and Bukele himself would eventually have to sell their BTC holdings as prices rise. are falling. The president responded to the tweet by asking about his bank.
The exchange between the two critics comes as global financial markets are in shambles. On the one hand, the crypto market has lost more than 60% of its market capitalization from the peak, and on the other hand, the equity market is at an all-time low.
How is your bank?
— Nayib Bukele (@nayibbukele) July 6, 2022Schiff has been vocal about the closure of his bank and blamed it on the corrupt local government. He said the government was illegally trying to extort him for criticizing them.
What's Your Reaction?
