The headline debate of Binance Blockchain Week Dubai — “Gold vs. Bitcoin” featuring Binance Founder CZ and long-time gold advocate Peter Schiff — delivered a sharp ideological contrast between traditional monetary thinking and the realities of digital value in 2025.Across 40 minutes of fast-paced argument, CZ consistently anchored his case in real-world adoption, infrastructure growth, and user utility, while Schiff leaned on historic monetary theory and gold’s physical properties.The result: a debate that left clear momentum on the side of Bitcoin’s future, not gold’s past.CZ: Bitcoin Has Proven Utility — and Hundreds of Millions Already Rely on ItCZ opened by addressing a core misconception: Bitcoin’s lack of physical form does not mean it lacks value.“Value is not determined by physical properties. Google, X, software — all are intangible, yet essential. Bitcoin is the most secure, transparent monetary network ever built.”He emphasized Bitcoin’s predictable, fully auditable supply, contrasting it with gold:“We literally do not know how much gold exists.With Bitcoin, we know exactly how much there is and where it is. It is the only truly finite asset humans have.”CZ also highlighted the global community supporting Bitcoin:Nearly 300 million users on Binance aloneMillions using BTC, stablecoins, and crypto rails for paymentsA rapidly expanding developer ecosystemReal-world utility across emerging marketsHe shared a compelling story from a Binance user in Africa who reduced bill payments from three days to three minutes using crypto.“That is material utility. That is life-changing. That is value.”Schiff: Bitcoin Is “Speculation,” Not Money — But Offers No Alternative for Digital MobilityPeter Schiff argued that Bitcoin lacks intrinsic value because it lacks industrial use. He described it as:“A speculative digital collectible people only buy because they think it will go up.”Schiff repeatedly repeated textbook definitions of money — unit of account, medium of exchange — arguing Bitcoin doesn’t qualify.But CZ countered with data from the ecosystem:“Money is what people choose to use. Hundreds of millions already use Bitcoin as money — directly or through cards, wallets, and merchants. Adoption defines money more than academic definitions.”Schiff’s counterarguments remained rooted in theoretical objections rather than adoption metrics, often overlooking that today’s monetary infrastructure is already digital.CZ Demonstrates Bitcoin Payments Live — Schiff Says It “Doesn’t Count”To challenge the claim that crypto isn’t used in payments, CZ held up a Binance Visa card.“You can pay anywhere Visa is accepted. Users spend crypto directly.The merchant receives fiat — problem solved.”Usage numbers:Millions of active Binance card usersTens of millions of crypto payment transactions processedMerchants do not need to integrate crypto directlySchiff dismissed it as “selling Bitcoin for dollars,” but CZ clarified the point:“It works. Users use crypto. Merchants get paid. That is utility.”The crowd overwhelmingly sided with CZ in recognizing this as real-world crypto usage.On Value: CZ Argues Bitcoin Has Outperformed Every Asset for 15 YearsSchiff claimed Bitcoin underperformed gold in gold-terms over a four-year window.CZ responded with the broader historical reality:Bitcoin has outperformed every major asset class since inceptionBitcoin has become a $2 trillion assetAdoption has grown from zero to hundreds of millions globallyBitcoin continues to see increasing real-world and institutional integration“Value is not determined by one handpicked time period. The long-term trajectory is clear.”The audience reaction made clear which viewpoint resonated.CZ on Altcoins vs. Bitcoin: Community + Adoption = Real ValueWhen Schiff implied new tokens dilute Bitcoin’s position, CZ reframed the argument:“Anyone can issue a token — but utility and community cannot be copied.Bitcoin is backed by millions of people. That is why it has value.”This distinction — technology vs. adoption — became one of CZ’s strongest points of the debate.Future Generations: CZ Says Bitcoin Wins; Schiff Says They Will Reject ItWhen asked what the next generation will prefer, CZ answered confidently:“Young people understand digital value. Bitcoin is global, mobile, and censorship-resistant.It is built for their world — not the old one.”Schiff predicted young investors will “learn the hard way,” but the audience laughter suggested otherwise.Digital Gold vs. Physical Gold: The Debate Ends with a Surprise TwistThough they disagreed on nearly everything, the session ended with unexpected collaboration:CZ invited Schiff to bring his tokenized gold project to Binance.Schiff accepted the idea — and even suggested Binance should be an issuer.CZ closed with a statement firmly aligned with the conference’s forward-looking tone:“Gold will do well. Bitcoin will do better. And both can coexist.But Bitcoin is the future.”
Catherine
Weiliang
Alex
Kikyo
Miyuki