Swap bitcoins for gold with Peter Schiff, if you want

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Peter Schiff will now let investors buy gold with bitcoins, fulfilling the dreams of central bank haters everywhere.

Bloomberg
Peter Schiff

Euro Pacific Precious Metals, which Schiff founded in 2010 to sell gold and silver, said Wednesday it will accept bitcoin for payment through a partnership with BitPay.

Bitcoin /quotes/zigman/31322028/realtime BTCUSD , of course, is a digital currency that is created through a cryptographic process rather than by a central bank. The decentralized network that transmits bitcoins has been touted as a more efficient way to send money around the world.

Schiff had previously expressed skepticism about the digital currency, even likening it to tulip mania. His stance stuck out since bitcoin has a strong base of support among people who distrust central banks and governments. Read: Peter Schiff says reckless Fed may push gold to $5,000.

Schiff didn’t make a statement in the press release, which was distributed by BitPay.

–Saumya Vaishampayan

More must-reads on MarketWatch:

Peter Schiff says reckless Fed may push gold to $5,000

Why stock investors should ignore dropping Treasury yields

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