Peter Schiff, an economist and supporter of gold, reiterated his opinion in a series of posts on X that tokenized gold is the ultimate form of blockchain technology, calling it a superior monetary asset and endorsing BioSig Technologies’ $1.1 billion gold-backed treasury initiative, launched in partnership with Solana-based tokenization platform Streamex.
On August 15, Schiff reacted to a Streamex post on X that highlighted the untapped potential of gold tokenization, with only $1.7 billion currently tokenized, representing a mere 0.008% of gold’s $22 trillion market cap.
Schiff commented on this, “This is what I’ve been saying for years. The best monetary asset to tokenize is gold. Tokenized gold improves on all the monetary characteristics that gold has than Bitcoin lacks. It solves all the problems that Bitcoin can’t.”
The Streamex post also highlighted benefits such as global access, around-the-clock liquidity, strong security, and lower financial barriers, emphasizing that gold is now ready for institutional use in digital form.
Gold-Backed Tokens Challenge Bitcoin
Schiff reaffirmed his views in a subsequent post on X, where he referenced BioSig and Streamex’s gold tokenization plans announced in July this year. He shared, “Tokenized gold will eat Bitcoin’s lunch. Also, who needs a U.S. dollar “stablecoin” when you can have a coin that represents ownership of real gold. ”
Earlier this year, BioSig Technologies (NASDAQ: BSGM), a medical-tech firm, announced definitive agreements for up to $1.1 billion in funding post-merger with Streamex. The capital will be used to build a gold-backed treasury and scale a real-world asset (RWA) tokenization platform. The agreement includes a $1 billion equity line of credit and $100 million in senior secured convertible debentures with a 4% interest rate. It allows the company to issue shares over 36 months.
As the digital asset market evolves and strives for reliable, asset-backed substitutes for both Bitcoin and fiat-pegged stablecoins, this audacious step indicates significant institutional interest in tokenized commodities.
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