Peter Schiff Backs $1.1B Tokenized Gold Plan, Slams Bitcoin
Economist and outspoken gold advocate Peter Schiff is doubling down on his belief that tokenized gold is blockchain’s best application, taking aim at Bitcoin in the process.
$1.1B Gold-Backed Tokenization Initiative
Schiff’s remarks came after Streamex, a Solana-based tokenization platform, shared that only $1.7B worth of gold is currently tokenized just 0.008% of gold’s $22 trillion market cap. Schiff responded on X, calling gold “the best monetary asset to tokenize” and claiming it improves on gold’s qualities while avoiding Bitcoin’s flaws.
The project he’s backing is a $1.1 billion gold-backed treasury plan by BioSig Technologies (NASDAQ: BSGM) in partnership with Streamex. Announced in July, the funding includes a $1B equity line of credit and $100M in senior secured convertible debentures at a 4% interest rate. The capital will be used to expand a real-world asset (RWA) tokenization platform and issue shares over 36 months.
Why Schiff Says Gold Beats Bitcoin
Schiff argued that tokenized gold solves “all the problems Bitcoin can’t” — offering global access, 24/7 liquidity, high security, and lower entry barriers for investors. He also suggested tokenized gold could replace U.S. dollar stablecoins entirely, providing a digital currency backed by a tangible asset.
This strong institutional push into gold tokenization marks another step in the broader digital asset market’s search for stable, asset-backed alternatives to both Bitcoin and fiat-pegged stablecoins.
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