CZ accepts Peter Schiff’s Bitcoin vs. tokenized gold debate
Binance founder Changpeng “CZ” Zhao accepted Peter Schiff’s challenge to a public debate on Bitcoin versus gold. Details – including the moderator, format, venue, and timing - are yet to be announced following their exchange on X.
On October 23, economist Peter Schiff congratulated Binance founder and former CEO Changpeng “CZ” Zhao on receiving a pardon from President Donald Trump. “Congratulations on your pardon. Let's celebrate with a Bitcoin versus tokenized gold debate,” Schiff wrote in an X post. CZ accepted the challenge, saying that although Schiff is a well-known Bitcoin critic, he appreciates his professionalism.
Following CZ’s response, Schiff suggested discussing who should host the event. In another post, he said the debate would focus on which asset – Bitcoin or gold – better satisfies the conditions of money: serving as a medium of exchange, a unit of account, and a store of value.
With the challenge accepted, attention now turns to who will moderate the debate and is gaining traction. Journalists and crypto commentators – including Natalie Brunell, Watcher.Guru, Laura Shin, and Dan Held – volunteered to host the event in X discussions. However, Schiff shared his own list of preferred moderators: Elon Musk, Joe Rogan, Tucker Carlson, and Russell Brand. He also launched a poll on X asking followers to vote.
Schiff, a long-time gold advocate and Bitcoin critic, has promoted gold tokenization to improve portability and payments. In an October 23 interview, he introduced Tgold – a blockchain token backed by vaulted physical gold for app-based transfers and redemptions, presenting it as a stable alternative to volatile cryptocurrencies.
Sharing thoughts on X, CZ argued that tokenized gold is not “on-chain gold,” raising concerns about third-party dependence and management issues. According to CZ, the token operates on a “trust-me-bro” principle, which he says is why gold coins have never taken off.
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Web3 writer and crypto HODLer with a keen interest in market trends and recent technologies.
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