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Gold investor Peter Schiff allows customers to pay with bitcoins

Use your bitcoins to pay for gold or silver!

Published Thu, May 22 2014 4:09 AM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Consumers interested in purchasing gold and silver will now be able to use bitcoins to make purchases from Euro Pacific Precious Metals. It's a rather curious pairing as founder Peter Schiff noted he originally wasn't a big fan of the digital cryptocurrency.

Gold investor Peter Schiff allows customers to pay with bitcoins | TweakTown.com

"My views have not evolved," Schiff told CNBC. "A lot of people still own bitcoins, and for now, they are still valuable. So I certainly want to make it easier for bitcoin owners to use their bitcoins to purchase gold and silver from my company."

Late last year, Schiff claimed that bitcoin essentially was nothing more than a fad, describing it as a "modern-day tulip mania," and that he didn't believe it was "going to end up being a source of commerce for the world." It makes sense that letting customers pay with bitcoin, which more consumers are interested in doing, is just practical business.

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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