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Key Takeaways
- CZ predicts more all-time highs for crypto.
- Peter Schiff continues to champion tokenized gold over Bitcoin.
- The upcoming debate between CZ and Peter Schiff highlights a deep ideological divide.
Binance co-founder Changpeng Zhao (CZ) said he expects Bitcoin (BTC) and other digital assets to notch “many more” all-time highs, days before he is due to debate long-time Bitcoin critic Peter Schiff.
The face-off, taking place at Binance Blockchain Week in Dubai on Dec. 4, will see the two contrasting thought leaders debate the value and differences between Bitcoin and tokenized gold.
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CZ’s All-Time Highs Prediction
On Tuesday, Dec. 2, CZ predicted a range of new all-time highs while promoting the new prediction market feature on his self-custodial wallet firm, Trust Wallet.
“I predict: many more ATHs coming soon. I just don’t know exactly when,” CZ wrote on X.
The tool, called Predictions, enables eligible users to take positions on outcomes across various real-world events, including crypto, politics, sports, and more, within a wallet-native interface.
CZ has long made bullish predictions for Bitcoin and the broader crypto market.
In October, the former Binance chief wrote that “Bitcoin will flip gold.”
“I don’t know exactly when. Might take some time, but it will happen. Save the tweet,” he wrote.
Peter Schiff’s Contrarian Stance
Schiff, a former Wall Street trader and one of Bitcoin’s most vocal detractors, has built his reputation on promoting physical gold as a hedge.
He founded precious-metals retailer Schiff Gold in 2010 and has increasingly embraced blockchain-based representations of off-chain gold holdings.
“The one thing that makes sense to put on a blockchain is gold,” Schiff said in October, adding that tokenized gold can serve as a medium of exchange and store of value.
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“It will do all the things that Bitcoin promises, but can never do,” he added.
“You can use tokenized gold as a medium of exchange, as a unit of account, as a store of value.”
This position, combined with his repeated criticism of Bitcoin’s usefulness, has made him one of the most prominent opponents of the crypto community.
Long-Standing Divide
Zhao has been an outspoken advocate for Bitcoin since entering the market in 2013.
He routinely urges followers to ignore short-term price swings and focus on long-term adoption, arguing that Bitcoin is a superior store of value.
He has also criticized tokenized-gold products, saying such assets depend on trust in an issuer rather than true on-chain verification.
“Tokenizing gold is not ‘on-chain’ gold,” he wrote in response to Schiff’s recent plans.
Fresh Attacks on Bitcoin
Over the past few weeks, Schiff’s criticism of Bitcoin has intensified, calling the asset “fake” after it fell nearly 5% in 24 hours.
Schiff has long maintained that Bitcoin’s value proposition is illusory and that markets will eventually abandon it.
He said early buyers were “foolish” for believing it would work and argued that tokenized gold “wins hands down” as a store of value.
Schiff also accused financial media, including CNBC, of giving crypto advocates overly friendly interviews.
The network “continues to host Bitcoin shills for softball interviews” while ignoring the asset’s underperformance relative to precious metals, he wrote.
Schiff further warned that 2026 “could be far worse” for Bitcoin after the token failed to hold gains from its rally toward $100,000 last year.
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