Peter Schiff: If tokenizing gold by trusting a third party is a scam, so is a stablecoin that holds the US dollar
2025-10-26 04:00:24
Peter Schiff, a critic of cryptocurrencies, tweeted that if tokenising gold by trusting a third party was a scam, so were stablecoins by trusting a third party to keep their dollars. "Surprisingly, many bitcoin users who support and regularly use stablecoins claim that tokenising gold is a scam. Their problem is that they have to trust a third party to keep their gold. But how is this different from tokenising the dollar? Tokenising the dollar requires trusting a third party to keep their dollars."
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