Ross Gerber, CEO of Gerber Kawasaki Asset and Investment Management, in a recent tweet cryptocurrency He targeted anti-Peter Schiff and claimed that Schiff had not yet cracked Bitcoin.
Schiff, a prominent American financial analyst, had moved to Puerto Rico for tax benefits. Gerber says that gold analyst Schiff tried to persuade him to relocate to this Caribbean island several times, but was unsuccessful.
Peter Schiff seems to have run into some serious tax evasion problems. He’s tried to sell me on moving to Puerto Rico several times for tax reasons… – and he still hasn’t figured out bitcoin… https://t.co/aRAZ9fxmLw
— Ross Gerber (@GerberKawasaki) July 4, 2022
Peter Schiff’s Bank Is Under Regulatory Radar
Schiff, 59, who is often on the agenda for his controversial statements about cryptocurrencies, recently faced tax problems.
A bank supervisor in Puerto Rico recently suspended the operations of Schiff’s small bank, Euro Pacific Bank, as part of an investigation.
It was alleged that Schiff’s bank was used to launder funds and evade taxes. The regulator said the financial expert’s bank has a “long history of non-compliance.”
The Age, one of Australia’s most popular newspapers, announced that Euro Pacific has become the first major target of an investigation called Operation Atlantis. The working group lauded Puerto Rico’s latest move, claiming it would act as a deterrent to other tax-evading banking institutions.
But Schiff told the New York Times that the bank “didn’t do anything wrong.”
The anti-Bitcoin investor claims that the decision to suspend surprises him, citing that he does not know the reason behind this move.
In December, Gerber compared Bitcoin and Ethereum to “cockroaches,” emphasizing the enduring power of these cryptocurrencies.