- Treasury mannequin backed by tokenized gold
- “It solves all the issues”
In a current social media submit, distinguished monetary commentator Peter Schiff predicted that tokenized gold will find yourself consuming Bitcoin’s lunch.
The identical applies to U.S. dollar-backed stablecoins since he’s satisfied that nobody will really want such merchandise when there’s a coin that represents actual gold.
Treasury mannequin backed by tokenized gold
Schiff’s most up-to-date remark comes after BioSig Applied sciences, a publicly traded medical know-how firm that focuses on intracardiac sign visualization, introduced that it had raised $1.1 billion in funding to construct a treasury with tokenized gold.
Previous to that, the corporate merged with Solana-based tokenization platform Streamex.
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As an alternative of leaping on the red-hot crypto treasury development, the corporate selected to mix gold with tokenization.
Schiff, a longtime cryptocurrency critic, seems to consider that this will likely be a wider development.
“It solves all the issues”
In one other submit, Schiff claims that gold is “the perfect financial asset” for tokenization.
He argues that tokenized yellow steel truly improves on all of the financial traits that gold has and Bitcoin lacks. “It solves all the issues that Bitcoin cannot,” he mentioned.
Tokenized gold has such benefits as world entry, liquidity, elevated safety, and decrease boundaries, in line with Streamex.
Nevertheless, some Bitcoiners have criticized the thought of getting tokenized gold for the reason that token may be on a centralized blockchain that may be manipulated. Furthermore, holders are uncovered to counterparty dangers.