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 (see our Binance reviews) 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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