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08/14 13:45

Stablecoin Wars Ignite: Peter Schiff Champions Gol

Stablecoin Wars Ignite: Peter Schiff Champions Gold-Backed Digital Assets

Stablecoin backing is under fresh fire after outspoken economist and gold supporter Peter Schiff took aim at tokens tied to US dollar reserves. He argues that relying on a fiat currency he views as shaky makes little sense when a more stable asset exists. Related Reading: Bitcoin Nears Climax, But A Twist Awaits—Analyst Reveals Key Insight His comments have reignited a long‑running debate about what should sit behind digital coins that promise a steady peg. Schiff Questions Fiat Backing According to Schiff, it makes no sense to support a token pegged to a currency that can be inflated away. “I get Bitcoin, but not US dollar stablecoins,” he wrote in a social media post. He pointed out that fiat money can be printed in large amounts, while gold has a fixed supply and centuries of use as money. Schiff said gold cannot be easily .

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