CZ Zhao Changpeng will debate Bitcoin villain Peter Schiff! Digital Gold BTC vs. Tokenized Gold: Who satisfies the monetary attributes more?
Economist Peter Schiff, who has long denounced Bitcoin, and Binance founder Changpeng Zhao (CZ) have finalized a public debate. The two sides will focus on "Bitcoin vs. Tokenized Gold" to discuss which one represents the real future of currency.
(Preliminary summary: Conversation with CZ Zhao Changpeng: I am not a person who particularly cares about money, and the Chinese-themed Meme trend is purely coincidental)
(Background supplement: Bitcoin villain Peter Schiff: Trump’s opening of 401(k) to invest in BTC will only exacerbate the “retirement crisis” in the United States)
Peter Schiff, a well-known economist who has long criticized Bitcoin Schiff, and Changpeng Zhao (CZ), founder of the world’s largest cryptocurrency exchange Binance, have officially reached a consensus that the two sides will launch a high-profile public debate focusing on “Bitcoin versus Tokenized Gold” (Bitcoin versus Tokenized Gold).
This debate will delve into which of the two is better at fulfilling the three core functions of money: medium of exchange, unit of account, and store of value. This duel is not only a confrontation of personal opinions, but also symbolizes the collision of concepts between traditional finance and digital assets, which has attracted great attention.
Background of the incident
The trigger for this debate stems from Schiff’s recent announcement of the launch of a blockchain platform called Tgold. The platform is designed to allow users to easily purchase, transfer or redeem physical gold through a mobile app. Schiff emphasized that this move can solve the problem of violent fluctuations in Bitcoin prices and achieve "things that Bitcoin promises but cannot deliver." He advocated that tokenized gold combined with the liquidity of blockchain technology and the intrinsic value of gold will become a more stable value storage and trading tool.
However, Changpeng Zhao (CZ) questioned this plan. He criticized Schiff's tokenized gold on the X platform as a "trust me bro" token, meaning that it was only a "verbal promise" and a blank check. CZ pointed out that tokenized gold is not truly “on-chain gold”, but relies on third-party custodians, and there are risks of management changes, wars or redemption failures after decades, similar to the operation model of stablecoins. He further questioned that the failure of the gold token market to flourish over the years showed its limited appeal. CZ even predicted that Bitcoin’s market value will eventually surpass gold, insisting that “gold will not return to zero, but Bitcoin is better.”
As the dispute between the two sides heats up. After CZ was pardoned by Trump yesterday (23rd), Schiff congratulated CZ and also invited CZ to "celebrate this matter with a debate." In response, CZ responded: "Although you are always against Bitcoin, your attitude is professional and impersonal. I appreciate that. We can debate."
Absolutley. Several people have already reached out to me offering to moderate. Do you have a preference?
— Peter Schiff (@PeterSchiff) October 23, 2025
Currently, Schiff has begun to interact with the community on the class="mhtbvw" data-width="500" data-dnt="true">
The debate is on. @cz_binance and I will debate Bitcoin versus tokenized gold. We just need a moderator. Who do you think is best suited for the task?
— Peter Schiff (@PeterSchiff) October 23, 2025
