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Binance co-founder Changpeng Zhao, aka CZ, has clashed with Bitcoin critic Peter Schiff over claims he made about tokenized gold.
The confrontation originated from feedback Schiff made in a reside stream with Threadguy that he plans a blockchain-based platform to launch a tokenized gold product that might have an edge over Bitcoin.
“As a result of gold will preserve its buying energy so ideally the one factor that is sensible to placed on a blockchain is gold,” he mentioned.
Schiff added that his tokenized gold product will “do all of the issues that Bitcoin guarantees however can by no means do” and that merchants would be capable to buy the tokenized gold by way of a platform referred to as SchiffGold.
“After which you’ll be able to switch the amount of gold, immediately at very low price,” he mentioned. ”Less expensive and far faster than you’ll be able to switch Bitcoin. You may pay or be paid in gold. And you may redeem it in bodily gold or ultimately you’ll be able to redeem it in a token.”
CZ Says Tokenized Gold Tokens Are A “Belief Me Bro” Product
CZ took challenge with Schiff’s feedback on X.
”Most individuals ‘in crypto’ know this, most individuals ‘not in crypto’ might not perceive but,” he mentioned. ”Tokenizing gold is NOT ‘on chain’ gold.”
He defined that tokenizing gold entails trusting a 3rd social gathering to provide you gold at some later date, ”even after their administration adjustments, perhaps a long time later, throughout a struggle, and many others.”
”It’s a ‘belief me bro’ token,” he mentioned, arguing that the extent of belief that’s required round tokenized gold is the rationale no “gold cash” really took off.
Saying the plain. Most individuals “in crypto” know this, most individuals “not in crypto” might not perceive but.
Tokenizing gold is NOT “on chain” gold.
It’s tokenizing that you simply belief some third social gathering gives you gold at some later date, even after their administration adjustments, perhaps… https://t.co/KMYfz2dG04
— CZ 🔶 BNB (@cz_binance) October 23, 2025
Gold Has Worst Correction In Years
After recording a number of all-time highs this 12 months, gold has skilled its strongest correction in years this week.
That pullback noticed the gold worth drop from a excessive of $4,381 to a weekly low of $4,1115, triggering the lack of $2 trillion in market cap.
However Schiff continues to argue that the steel is a greater decide than BTC.
“If gold can drop by 6.5% in in the future on panic promoting, think about what can occur to Bitcoin,” he mentioned on X. ”Such a crash might not be imaginary for lengthy.”
Schiff mentioned the autumn within the gold worth received’t lead to capital rotation into Bitcoin, as many analysts forecast, and predicted as an alternative that the drop “might set off a mass exodus out of Bitcoin.”
As an alternative of gold’s sharp correction setting off a extensively hyped rotation into Bitcoin, it might set off a mass exodus out of Bitcoin. Look out under!
— Peter Schiff (@PeterSchiff) October 22, 2025
Bitcoin, in the meantime, has climbed greater than 1% previously 24 hours to commerce at $109,563.88 as of 6:03 a.m. EST.
CZ Predicts That Bitcoin Will Surpass Gold In Market Cap
Initially of this week, the Binance founder predicted that Bitcoin may ultimately surpass gold’s market cap.
High belongings by market cap (Supply: CompaniesMarketCap)
In response to CompaniesMarketCap, gold’s capitalization stands at over $28.77 trillion, making it essentially the most useful asset on this planet. Bitcoin’s capitalization stands at round $2.18 trillion, rating it as the eighth-biggest asset on this planet and greater than Fb mum or dad Meta and Saudi Aramco.
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