Peter Schiff publicly challenges CZ Zhao Changpeng! Century debate: Bitcoin vs tokenization of gold, which one meets the conditions of currency more?

The century-long debate between gold advocates and Bitcoin supporters may be about to unfold? Renowned economist and gold bull Peter Schiff has publicly challenged Binance founder CZ Zhao Changpeng on X, proposing a debate titled “Bitcoin vs. tokenized gold.”

Summary: Peter Schiff's tokenization of gold has sparked controversy, and CZ bluntly stated that this is not on-chain gold.

Peter Schiff recently announced in an interview video that he will launch a tokenization gold product, allowing users to buy, store, and transfer ownership of gold in a physical vault through a mobile application, and even redeem for physical gold.

(CZ refers to tokenization gold as off-chain gold, is it a PI clearing liability? )

However, CZ immediately responded to the criticism on X: “That's not the gold on the chain, but a 'brother trust me' Token. You have to trust that the third party will actually give you the gold one day in the future, even after the company's management changes.” He emphasized that this is precisely the reason why the past gold coin Token (gold coins) could never become popular.

Gold bull Peter Schiff challenges CZ, inviting a debate on Bitcoin and currency issues.

Just after CZ rebutted Peter Schiff's proposal for the tokenization of gold, Peter Schiff replied on Twitter: I challenge CZ. A debate: Bitcoin vs. tokenized gold. Which one best meets the criteria of money, including serving as a medium of exchange, unit of account, and store of value? Who wants to host?

Gold surged nearly 60% this year before recently plummeting, and Schiff took the opportunity to emphasize that this is just short-term noise. The rebound of Bitcoin presents a great opportunity for “fool's gold” holders to return to real gold.

(Gold has plummeted from historical highs, Peter Schiff: The rebound of Bitcoin is an opportunity for “fool's gold” to turn into real gold)

This article features Peter Schiff publicly challenging CZ Zhao Changpeng! The century debate: Bitcoin vs tokenization of gold, which better meets the criteria for currency. First appeared in Chain News ABMedia.