Binance co-founder Changpeng Zhao (CZ) has defended Bitcoin’s value against criticism from Peter Schiff, who continues to advocate for the asset’s limited intrinsic worth. Schiff maintains that Bitcoin’s price is solely driven by speculative belief and lacks true underlying value, arguing that its continued existence relies on new investors feeding the illusion of its ‘nothingness’. He predicts a decline in demand will trigger a market crash. CZ countered this claim, citing gold as an example, suggesting that assets like gold rely on collective beliefs for their value just as Bitcoin does. He asserts that when trust wanes, the asset’s worth will decrease, regardless of whether it’s Bitcoin or gold.