Published
2 weeks ago on
April 28, 2024
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Peter Schiff unintentionally showed his pain of using the centralised financial system and asked Bitcoin supporters to help him fight against the IRS’s abuse of power.
Peter Schiff is a popular Bitcoin hater. He always supports Gold & Gold ETFs but at the same time, he never forgets to criticise Bitcoin as a speculative asset.
On 27 April 2024, By addressing his bank account shutdown matter, Peter Schiff said that the IRS Chief Jim Lee lied at the press conference regarding the closure of his bank account.
IRS Chief Jim Lee lied at the press conference to announce the closure of my bank. He stated "Let me be clear, OCIF independently made the decision announced today." But internal emails produced as a result of my FOIA request confirm that no announcement would have been made on…
— Peter Schiff (@PeterSchiff) April 27, 2024
A Crypto enthusiast said that Schiff is now probably regretting not holding & using Bitcoin, which is a fully decentralised financial system.
In response, Schiff said that the discussed matter was not related to Bitcoin and also urged Bitcoin supporters not to bring Bitcoin-related discussion into the matter.
Furthermore, he urged Bitcoin people to support him to fight against the IRS’s abuse of power.
In response, a Crypto enthusiast said that if he wants support from the crypto community to fight against the IRS then first he needs to support Bitcoin & Crypto against misleading information spread by haters.
I would support your battle against the IRS, if you'd also support the crypto industry, namely Ripple's fight against the SEC, another poorly managed government agency that regularly abuses their power. We can find common ground…. But your daily rants about BTC are exhausting…
— NSS2VPREZ (@NSS2VPREZ) April 27, 2024
Republic First Bank shut down
It is worth it to note that recently the US financial regulators shut down Republic First Bank and further decided to reopen that bank under Fulton Bank.
It was the first bankruptcy of any bank this year in the US. Strangely US financial experts believe more bank bankruptcy is coming for small-scale banks.
Following the news around Republic First Bank’s bankruptcy, crypto enthusiasts said that it is time to show more inclination toward Bitcoin.
❌Don't hold your money in #crypto wallets.
— Marto👨🏻💻 (@martocsan_) April 26, 2024
🏦Another bank just collapsed, the Republic First Bank. Yeah… I think I'll stick to #Bitcoin.
Read also: Solana co-founder dismisses claims of “meme coin’s negative impact on development”
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