Peter Schiff challenges CZ to Bitcoin vs tokenized gold debate
Prominent economist and longtime crypto critic Peter Schiff has publicly challenged Binance founder Changpeng Zhao (CZ) to debate which asset better serves as a medium of exchange, unit of account, and store of value – Bitcoin or tokenized gold.
Schiff stated that such a discussion should determine which asset is better suited for the roles of a medium of exchange, a measure of value, and a store of value (all three are classic functions of money from economic textbooks).
The crypto community quickly reacted. Watcher.Guru offered to host the debate live on X Spaces and volunteered to moderate it.
CZ hasn’t yet responded, but there is little doubt that the topic is familiar to him and that he would excel at it. He once dismissed tokenized gold as “trust me bro tokens” – digital IOUs that depend on intermediaries instead of blockchain verification.
The proposed debate stems from a recent dispute following Schiff’s launch of Tgold, a platform issuing tokens backed by physical gold. CZ responded at the time that such assets are not truly on-chain but merely simulate decentralization.
Schiff’s proposal quickly evolved into a broader ideological clash – gold versus Bitcoin. Influencers have joined the discussion, and his post drew nearly 200,000 views within hours.
So far, CZ has not said whether he’ll accept the challenge. Instead, he is probably busy celebrating his pardon, which he received today from Donald Trump.
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