Overview
- At the Dubai event on Dec. 4, the debate centered on whether Bitcoin or gold better serves as money across store-of-value, payment, and accounting roles.
- Peter Schiff argued that most Bitcoin spending reflects sales into fiat rather than true currency use, labeling such transactions “liquidated bets.”
- CZ countered that users can pay seamlessly via crypto cards and conversion rails that settle to merchants in their chosen currency.
- CZ highlighted instant blockchain verification by handing Schiff a gold bar he could not authenticate on the spot, contrasting physical checks with public-ledger transparency.
- Coverage noted gold’s strong 2025 gains of roughly 59% and Bitcoin’s negative year-to-date performance, while multi-year TradingView data showed Bitcoin up about 377% over five years versus gold’s 127%.