Cryptocurrency expert Peter Schiff has sparked controversy by questioning the legitimacy of both tokenized gold and stablecoins, arguing that their reliance on third-party trust is flawed. According to Schiff’s recent social media posts, if tokenized gold is deemed a scam due to its dependence on third-party custodianship, then stablecoins – which also require these external entities for U.S. dollar management – should be viewed with similar suspicion. Notably, many Bitcoin users who tout the benefits of tokenized gold have been vocal proponents of stablecoins, yet appear hypocritical in their perspective. Schiff’s argument emphasizes that relying on third parties to safeguard physical assets like gold is no different from trusting intermediaries for digital assets like U.S. dollar-backed tokens.