of Binance Blockchain Week Event in Dubai Bitcoin and gold went head-to-head and became the center of a high-stakes showdown between traditional and digital innovation. Investors, technology enthusiasts, and financial experts have been keeping a close eye on Binance founder Changpeng Zhao's professional approach. discussed famous Bitcoin critic Peter Schiffmakes a convincing argument for why Bitcoin is better than gold.
Binance founder dominates Bitcoin and gold discussion
During Binance Blockchain Week in Dubai, Schiff and CZ faced off in a high-profile debate over the value of blockchain. bitcoin vs gold. While Schiff defended gold as a safe, stable, tangible asset, the Binance founder made a convincing case. Bitcoin adoptionpracticality, value and global reach.
Throughout the discussion, which lasted more than an hour, CZ consistently demonstrated the practical benefits of Bitcoin and walked away. Schiff's Theory of Money Mainly on defense. Binance founder emphasized Bitcoin transparency and predictable supply and its role in the modern financial system. He pointed to the hundreds of millions of users who rely on Bitcoin to pay, save, and send money.
Schiff argued: Bitcoin has no inherent value And is primarily driven by hype and the belief that prices will rise. He said gold has been tangible, rare and valuable in industry for centuries. Better than BTC. He also claimed that “nobody needs” Bitcoin and that the cryptocurrency has “nothing to back it up.”
Practical demonstrations played an important role in the discussions between Schiff and CZ. The Binance founder explained how Bitcoin and cryptocurrency payments are already improving financial efficiency, especially in emerging markets. Schiff questioned whether these transactions really count as money, since merchants ultimately receive traditional currency. CZ's response emphasized the importance of recruitment and network effects; Use BTC directly for payments Give it real world significance.
The preferences of the younger generation were also taken into consideration during the discussion. CZ asked Schiff whether Millennials and Gen Z prefer Bitcoin or gold. Bitcoin critics reacted sharply, suggesting they would choose gold. He pointed out that while many young investors are losing money on BTC, gold offers a safer and more attractive alternative. The Binance founder countered that young people understand digital value more intuitively and prefer assets that are mobile, borderless, and censorship-resistant.
Digital value and the future of money
The discussion between CZ and Schiff also highlighted the following points: change the definition of money. Bitcoin acts as a decentralized network that enables instant payments and transparent verification. Its introduction also contributed to the evolution of the financial economy, facilitating faster and more seamless cross-border payments. Schiff argued that gold's scarcity and industrial demand will maintain its value, making it a reliable hedge against economic uncertainty.
Tokenization was also a point of agreement under discussion, with Schiff emphasizing: Gold can be digitized and tokenized Facilitates ownership and distribution without moving physical metal. CZ argued that Bitcoin offers similar benefits while enabling global financial inclusion. They also discussed the supply of both assets, with the Binance founder pointing out that while Bitcoin has a visible supply, gold does not.
They also Performance of both assets Over the years. Schiff claimed that gold has outperformed BTC over the past four years. CZ claimed that Bitcoin has far outperformed gold over the past eight years, rocketing from a few cents to an ATH of over $126,000 since its launch in 2009. He concluded the discussion by predicting that Bitcoin's growth will outpace gold's over time.
Featured image from iStock, chart from Tradingview.com
