A new round in the long-running Bitcoin vs gold rivalry has erupted between Binance founder Changpeng Zhao and gold advocate Peter Schiff, after Schiff claimed that “gold is eating Bitcoin’s lunch.”
In a recent post, Schiff argued that Bitcoin has lost 32% of its value priced in gold since August, declaring that the ongoing bear market “will be brutal.” He urged investors to sell what he called “fool’s gold” and buy physical gold instead.
CZ quickly fired back, calling it “Peter revenge” and sarcastically suggesting that Schiff’s rare moment of correctness covers only “about 1%” of Bitcoin’s 16-year history.
Peter revenge. 👏
We should have listened to him, two months ago, out of the 16 years in bitcoin's existence. About 1% of the time.
I am sure bitcoin fluctuated negatively against gold more than that, except BTC went from $0.004 to $110,000 USD in 16 years. https://t.co/c7IiygbOer
— CZ 🔶 BNB (@cz_binance) October 16, 2025
“We should have listened to him, two months ago, out of the 16 years in Bitcoin’s existence,” CZ wrote, adding that while BTC has occasionally lagged behind gold, it has still surged from $0.004 to over $110,000 in that time.
The exchange reignites a classic debate between digital and traditional stores of value. Schiff’s bearish outlook contrasts sharply with Anthony Pompliano’s comments, noting that gold, when priced in Bitcoin, has fallen 84% since 2020.
For now, Bitcoin’s short-term weakness against gold hasn’t shaken long-term believers, many echoing CZ’s point that temporary corrections are part of the same cycle that made BTC the best-performing asset of the decade.