Financial commentator Peter Schiff recently stated on social media that tokenized gold could become a serious competitor to Bitcoin.
Treasury Model Backed by Tokenized Gold
Schiff's latest comment comes after BioSig Technologies announced it raised $1.1 billion to build a treasury with tokenized gold. Previously, the company merged with the Solana-based tokenization platform, Streamex.
Peter Schiff's Assertions on Advantages of Tokenized Gold
Schiff insists that gold is 'the best monetary asset' for tokenization. He argues that tokenized gold enhances all the monetary traits that gold has, but Bitcoin lacks. 'It solves all the problems that Bitcoin can't,' he stated.
Criticism of Tokenized Gold from the Bitcoin Community
Some Bitcoin enthusiasts criticized the idea of tokenized gold, citing that tokens may exist on a centralized blockchain subject to manipulation. Additionally, holders are exposed to counterparty risks.
The impact of tokenized gold on the cryptocurrency market and its comparison to Bitcoin continues to spark active discussions among financial experts and crypto investors.
