Bitcoin News Today: Peter Schiff Endorses $1.1B Tokenized Gold Initiative Over Bitcoin

Peter Schiff, a well-known economist and longtime gold advocate, has publicly endorsed a $1.1 billion gold-backed treasury initiative led by BioSig Technologies in partnership with Streamex, a Solana-based tokenization platform. In a series of posts on X, Schiff expressed his belief that tokenized gold is the superior monetary asset and a better alternative to Bitcoin, calling it a “monetary improvement” over both Bitcoin and U.S. dollar stablecoins [1]. He emphasized that gold’s inherent qualities—tangible value, security, and universal acceptance—are strengthened through tokenization, making it a more reliable store of value than Bitcoin, which lacks these foundational traits.

The initiative, announced in July and further detailed in August, builds on a broader agreement between BioSig and Streamex. The companies have secured up to $1.1 billion in funding, including a $1 billion equity line of credit and $100 million in senior secured convertible debentures with a 4% interest rate. The capital will be used to establish a gold-backed treasury and scale the RWA tokenization platform [1].

Schiff’s comments followed a post by Streamex highlighting the underdeveloped state of gold tokenization, which currently accounts for just $1.7 billion—or 0.008% of gold’s $22 trillion market cap [1]. He reiterated a long-standing argument: tokenized gold addresses key limitations of Bitcoin and offers a practical, institutional-grade alternative to both digital currencies and fiat-pegged stablecoins.

The Streamex platform has positioned tokenized gold as a solution with benefits including global access, 24/7 liquidity, strong security, and lower financial barriers. These features make it particularly appealing to institutional investors looking for a digital alternative to traditional gold holdings [1]. Schiff echoed this sentiment, stating that tokenized gold will “eat Bitcoin’s lunch” and questioned the need for stablecoins when a coin backed by real gold is available.

The development underscores a growing shift in the digital asset space toward asset-backed tokens and away from speculative digital assets like Bitcoin. Institutional actors are increasingly exploring ways to bring traditional assets like gold into the digital economy, and this initiative represents a significant step in that direction. As the tokenization of commodities gains momentum, it is likely to intensify the debate over the future of money and the role of gold in a digital world.

Source: [1] Peter Schiff Backs $1.1B Tokenized Gold Plan, Slams Bitcoin (https://www.cryptotimes.io/2025/08/15/peter-schiff-backs-1-1b-tokenized-gold-plan-slams-bitcoin/)