Peter Schiff | Crypto

Gold advocate Peter Schiff faced Binance co-founder Changpeng "CZ" Zhao during an event panel in Dubai, arguing that tokenized gold is a better store-of-value asset than Bitcoin. A panel featuring gold advocate Peter Schiff and Binance co-founder Changpeng “CZ” Zhao at Binance Blockchain Week highlighted the challenges of verifying physical gold, after Schiff was unable to confirm whether a gold bar presented to him was genuine. The debate centered on whether tokenized gold or Bitcoin (BTC) is a better store of value asset based on divisibility, portability, verifiability, durability and supply constraints — key factors in assessing an asset’s viability as money. CZ argued that BTC is a better medium for storing value for several reasons, including the ability for any user to instantly verify the cryptocurrency through a full node or other methods that check a cryptographically secure public ledger.  Read more

A lack of conviction among "weak" hands will cause new Bitcoin holders to dump at the first sign of trouble, worsening market drawdowns. The transfer of Bitcoin (BTC) from long-term holders, also known as “OGs,” to “weak” hands will cause future drawdowns to be more severe, according to gold investor and economist Peter Schiff. Bitcoin is “finally having its IPO moment,” Schiff said on Saturday, adding that there is now enough liquidity in the Bitcoin market for long-term holders to cash out.  “This much Bitcoin moving from strong to weak hands not only increases the float, but also means future selloffs will be bigger,” Schiff added. Read more

Schiff also challenged Binance co-founder Changpeng Zhao (CZ) to a debate, slated to take place in December in the United Arab Emirates. Gold investor Peter Schiff called Strategy’s business model, which hatched the biggest Bitcoin (BTC) treasury company in the world, a “fraud” on Sunday and challenged the company’s founder, Michael Saylor, to a debate.  Schiff, who is one of crypto and Bitcoin’s harshest critics and a staunch gold advocate, challenged Saylor to a debate at Binance Blockchain Week in Dubai, United Arab Emirates (UAE), in December. In a separate X post, Schiff argued: Once this happens, Strategy will no longer be able to issue more debt, sparking a “death spiral,” Schiff continued. Read more

In an interview with Cointelegraph, economist Peter Schiff warns that Bitcoin’s gains are built on political and Wall Street support that may not last. In an exclusive interview with Cointelegraph, veteran economist and gold advocate Peter Schiff issued one of his starkest warnings yet about Bitcoin’s future, and the powerful forces he believes have inflated it. Schiff argues that the latest Bitcoin (BTC) bull market isn’t organic, but rather propped up by political influence in Washington, DC and Wall Street’s self-interest. Despite being proven wrong multiple times in the past, Schiff is doubling down on his statement that Bitcoin is a “bubble” and will eventually “go to zero.” The economist challenges the mainstream narrative that Bitcoin protects investors from inflation or dollar weakness, warning instead that the same institutions Bitcoin was meant to disrupt are now the ones keeping it alive. Read more

Gold has pushed to records and Bitcoin has exceeded prior peaks, and CZ with Schiff have weighed a live debate on whether tokenized gold or decentralized crypto better meets money’s exchange, account, and value roles—Gold Bitcoin CZ Schiff. The post Gold vs Bitcoin: Peter Schiff to Debate CZ Over the Future of Money appeared first on Cryptonews.

CZ hits back at Peter Schiff’s “brutal bear market” warning, dismissing the gold advocate’s Bitcoin criticism as short-sighted and historically insignificant.

Bitcoin's price is flying at historic record highs, buoyed by a broad and insatiable demand far above US stock market gains at their own all time highs. But EuroPac chief Peter Schiff says US dollar weakness is to blame.

Bitcoin’s latest rally sparked a reaction from Peter Schiff, urging a switch to silver, while others were more bullish than ever. Longtime Bitcoin critic and gold advocate Peter Schiff said the latest BTC rally may be a selling opportunity for investors to buy silver instead. “With Bitcoin hitting new highs today (in dollars), it’s a great time to sell some and buy silver ahead of silver’s next big leg up,” Schiff said in a Thursday X post as Bitcoin (BTC) put on its moon boots again and set new highs above $112,000. He claimed that silver has more upside potential than Bitcoin and added that while BTC “can easily crash, silver’s downside seems very limited.” Read more