Peter Schiff, vocal proponent of gold and a longtime critic of cryptocurrencies and bitcoin
, said he intends to launch his own gold-backed token while taking a dig at the value of U.S. dollar-pegged stablecoins.
“I get bitcoin, but not U.S. dollar stablecoins,” Schiff posted Friday on X. “If you’re going to introduce a third-party custodian, why settle for a token backed by a flawed fiat currency like the dollar, when you can own one backed by gold?”
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