Peter Schiff Doubles Down on $1.1B Tokenized Gold Bet—While Trashing Bitcoin

Gold bug Peter Schiff just made his biggest crypto play yet—and it’s not what you’d expect. The notorious Bitcoin critic is backing a $1.1 billion tokenized gold initiative, calling it 'real digital value' while dismissing BTC as 'speculative confetti.'

Schiff’s pivot to blockchain-based precious metals exposes the irony of crypto’s loudest skeptic embracing its underlying tech. Tokenized gold, he argues, combines the stability of bullion with the efficiency of decentralized ledgers—a jab at Bitcoin’s volatility.

Meanwhile, Bitcoin maximalists are rolling their eyes. 'Nothing says innovation like digitizing an asset Romans traded,' quipped one crypto developer. The move highlights how traditional finance is co-opting crypto’s tools while still refusing to drink the Kool-Aid.

Schiff’s gold play may be smart hedging—or just another case of Wall Street wanting blockchain without the revolution. Either way, it proves even the staunchest critics can’t ignore crypto’s infrastructure. Now if only they’d stop calling it a Ponzi scheme long enough to cash the checks.

Gold-Backed Tokens Challenge Bitcoin 

Schiff reaffirmed his views in a subsequent post on X, where he referenced BioSig and Streamex’s gold tokenization plans announced in July this year. He shared, “Tokenized gold will eat Bitcoin’s lunch. Also, who needs a U.S. dollar “stablecoin” when you can have a coin that represents ownership of real gold. ”

Earlier this year, BioSig Technologies (NASDAQ: BSGM), a medical-tech firm, announced definitive agreements for up to $1.1 billion in funding post-merger with Streamex. The capital will be used to build a gold-backed treasury and scale a real-world asset (RWA) tokenization platform. The agreement includes a $1 billion equity line of credit and $100 million in senior secured convertible debentures with a 4% interest rate. It allows the company to issue shares over 36 months.

As the digital asset market evolves and strives for reliable, asset-backed substitutes for both bitcoin and fiat-pegged stablecoins, this audacious step indicates significant institutional interest in tokenized commodities. 

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