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Ross Gerber Says Peter Schiff Still Hasn't Figured Out Bitcoin

Mon, 07/04/2022 - 18:51
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Alex Dovbnya
Gerber Kawasaki Wealth CEO Ross Gerber took a jab at Peter Schiff following the gold bug’s tax evasion scandal
Ross Gerber Says Peter Schiff Still Hasn't Figured Out Bitcoin
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Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, took aim at cryptocurrency skeptic Peter Schiff in a recent tweet, claiming that the latter is yet to figure out Bitcoin.

Schiff, a prominent American financial analyst, moved to Puerto Rico for tax benefits. Gerber says that the gold bug has tried to talk him into moving to the Caribbean island several times to no avail.

The 59-year-old libertarian investor, who usually makes headlines because of his controversial statements about cryptocurrencies, recently ran into tax problems. A bank regulator in Puerto Rico recently suspended the operations of Schiff’s boutique bank called Euro Pacific Bank as part of a damning investigation.

Schiff’s bank was allegedly used for laundering funds and enabling tax evasion. The regulator has stated that the financial commentator’s bank has a “long history” of noncompliance.

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The Age, one of the most popular Australian newspapers, revealed that  Euro Pacific became the first major target of an investigation called Operation Atlantis. The task force praised Puerto Rico’s recent move, claiming that it will be a deterrent for other tax-dodging banking institutions.

Schiff, however, told The New York Times that the bank did “nothing wrong.”

The gold bug claims that he was surprised by the suspension, claiming that he doesn’t know the reason behind the move.
  
In December, Gerber compared Bitcoin and Ethereum to “cockroaches,” highlighting the staying power of those cryptocurrencies.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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