The longstanding debate between Bitcoin and gold as stores of value has intensified, with Binance founder Changpeng Zhao (CZ) firing back at gold advocate Peter Schiff's recent criticisms. Schiff claimed that Bitcoin has lost 32% of its value when priced in gold since August 2025, declaring the ongoing bear market "brutal" and urging investors to sell what he called "fool's gold" in favor of physical gold.
In a swift response on October 16, 2025, CZ sarcastically referred to Schiff's comments as "Peter revenge" and emphasized that such short-term underperformance represents only about 1% of Bitcoin's 16-year history. He highlighted Bitcoin's monumental growth from $0.004 to over $110,000, arguing that temporary corrections are part of the cycle that has made BTC the best-performing asset of the decade.
Adding to the context, crypto analyst Ted Pillows noted that Bitcoin is hovering around its 200-day moving average of $107,000, warning that a daily close below this level could push prices toward $100,000 or even the $90,000–$95,000 range. However, he suggested this zone often acts as an accumulation area for long-term investors rather than a panic-sell trigger.
Despite short-term skepticism, institutional confidence remains, as evidenced by Michael Saylor's firm continuing Bitcoin purchases. Polymarket data shows a 43% chance of Bitcoin reaching $130,000 by 2025, though this reflects a 21% decrease from recent projections. At the time of reporting, Bitcoin traded around $108,392, down 2.18% daily and 12.18% weekly, reigniting discussions on digital versus traditional value stores.
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