Economist Peter Schiff has reiterated his views on gold tokenization as an important step in the evolution of blockchain technology.
Tokenization of Gold and Its Potential
On August 15, 2023, Peter Schiff commented on a post by the tokenization platform Streamex about the untapped potential of gold tokenization. He noted that currently only $1.7 billion of gold’s total assets of $22 trillion is tokenized, representing just 0.008%.
Gold Tokens vs. Bitcoin
Schiff reiterated his stance in a subsequent post on X, stating: "Tokenized gold will eat Bitcoin's lunch. Why need a U.S. dollar stablecoin when you can have a token representing real gold?"
BioSig Technologies and Streamex Initiatives
BioSig Technologies, a medical tech firm, announced earlier this year that it had secured funding of up to $1.1 billion post-merger with Streamex. These funds are intended to build a gold-backed treasury and scale a real-world asset tokenization platform.
Gold tokenization opens new opportunities for institutional investors and creates reliable alternatives to Bitcoin and fiat-pegged stablecoins.
