Haciyev Reşit 
Two prominent figures in the financial world Binance founder Changpeng Zhao (CZ) and well-known gold advocate Peter Schiff went head-to-head in a debate titled “Bitcoin and Tokenized Gold.” The live discussion highlighted not only their opposing views, but also broader trends shaping the future of digital assets. Core topics included Bitcoin’s real value, its use cases, and its long-term positioning in the global economy. The exchange drew significant attention from both crypto investors and traditional finance supporters.
Bitcoin vs. Tokenized Gold: CZ vs. Schiff
In the debate, Changpeng Zhao argued that Bitcoin’s value does not simply stem from speculative price movement, but from its real-world utility. According to him, Bitcoin significantly reduces the time required for cross-border payments—from days via traditional systems to minutes. Thanks to its design that eliminates the need for third-party custody, Bitcoin stands out as a globally transferable, sovereign digital asset.
CZ emphasized that despite the rise of payment technologies like Binance Card, Bitcoin usage has not declined. Instead, he said, Bitcoin is quietly becoming integrated into everyday life. In his view, Bitcoin is not just an investment vehicle, but is increasingly used as a payment and value-transfer method.
Peter Schiff’s View: “Bitcoin Is a Product of a Speculative Cycle”
Peter Schiff countered by arguing that Bitcoin’s price increases are largely the product of speculative boom-and-bust cycles. In his view, Bitcoin fails as a true store of value because it creates no obligatory demand and has no industrial use.
Schiff claimed that payments made with Bitcoin are effectively just selling Bitcoin in order to spend money, which he views as an unsustainable model. He highlighted gold’s thousands-of-years-long history, its role in central bank reserves, and its physical applications as features that place it in a far stronger position than Bitcoin.
CZ responded:
“Bitcoin represents real global usage, not just speculation. Its value comes from the utility it provides in everyday life.”
Conclusion
The debate between CZ and Peter Schiff once again underscored the long-standing divide over Bitcoin’s future role in the global economy. While one side sees Bitcoin as a rapidly advancing technology, the other emphasizes the durability of traditional assets like gold. These opposing perspectives suggest that discussions over the future of digital assets will remain a focal point for years to come.
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