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Peter Schiff Claims He “Gets Bitcoin” But Not Dollar-Pegged Stablecoins, Plans To Launch Gold-Backed Alternative
Peter Schiff, a renowned gold advocate and Bitcoin critic, has recently expressed his views on Bitcoin and stablecoins. In a recent post on X, he stated that while he understands the concept of Bitcoin, he is skeptical about dollar-pegged stablecoins.
Schiff emphasized that he believes in owning a store of value backed by a tangible asset, like gold. He urged investors to opt for a gold-backed stablecoin instead of a US-dollar pegged one. According to Schiff, this would provide both liquidity and the security offered by physical gold.
He also mentioned that he plans on launching his own gold-back alternative soon. This move comes as the Senate has passed a landmark regulation bill in support of stablecoins, which is expected to be signed into law by President Donald Trump by August.
It’s worth noting that Schiff’s opinions are not new; he has been vocal about his disdain for fiat currencies like the US dollar and his preference for gold.
Source: zycrypto.com
