Peter Schiff’s bank closure strengthens Bitcoin case for financial freedom

Prominent economist Peter Schiff had his bank shut down by Puerto Rico regulators. Schiff's prediction for Bitcoin (BTC) came true for his own traditional bank. Puerto Rico authorities closed down Schiff’s bank for not maintaining the net minimum capital requirements. Schiff said he was unaware of the regulatory minimums and was not presented with legal notice prior to the abrupt closure. The episode further cements Bitcoin's position as the ultimate replacement of traditional finance. On April 20, Puerto Rico became the fourth jurisdiction in America to award a money transmitter license to Binance.US, a U.S.-based subsidiary of crypto exchange Binance, to be given a license to operate in the state of Puerto Rico. Analysts from Deutsche Bank forecasted Bitcoin prices to rebound back to $28,000 by the end of the year. Source