Peter Schiff Says He Intends To Launch Gold-Backed Stablecoins, Deems Dollar As A ‘Flawed’ Fiat Currency
Financial commentator Peter Schiff expressed his intent to launch a gold-backed stablecoin Thursday, questioning the value of those backed by the U.S. dollar.
What Happened: Schiff responded to a comment on X that he should launch a gold-backed stablecoin.
“They already exist. But I do intend to launch my own,” Schiff replied. Many users soon converged on this post, with some even suggesting names for the initiative, such as SchiffCoin, while others called it a genuinely “good idea.”
It wasn’t immediately clear whether Schiff was making a joke or genuinely interested in tying cryptocurrency to the asset he passionately supports. Benzinga reached out to entities connected to Schiff, such as SchiffGold, to gather additional information. The article will be updated when they respond.
The conversation …