Overview
- At Binance Blockchain Week in Dubai on Dec. 4, Binance founder Changpeng Zhao and gold advocate Peter Schiff debated which asset better fits modern money.
- CZ staged a live test by handing Schiff a sealed gold bar and highlighting that gold requires trusted verification, contrasting it with Bitcoin’s instantly auditable ledger.
- Schiff argued Bitcoin payments are “just liquidated bets,” asserting most consumer spending routes BTC through intermediaries into fiat rather than paying merchants in Bitcoin.
- CZ countered that crypto cards and similar rails already make Bitcoin practical for everyday spending from the user’s perspective, with conversions handled behind the scenes.
- Schiff announced T-Gold.com for tokenized gold and silver stored in segregated vaults, conceding tokenization improves gold’s divisibility and transferability; he also cited gold’s strong 2025 gains of roughly 59% versus Bitcoin’s down year, while CZ pointed to Bitcoin’s superior multi-year returns.