The economist Peter Schiff, who feeds the love of gold, has promised to release the precious metal stabblecoins skeptical in relation to cryptocurrencies.
One of the commentators invited Peter to create his own stablecoin based on gold, and the economist noted that he has such plans. Schiff has experience in developing digital assets because he produced NFT collections in the Bitcoin blockchain, so he can be trusted with his words.
Now in the market of stablecoins tied to the gold rate is dominated by Pax Gold (Paxg) and Tether Gold (Xaut) cryptocurrencies created by Paxos Trust Company and Tether, respectively. Over the past year, their level of capitalization has increased by 69% and reached $ 1.69 billion. The demand for these coins increased amid an increase in the cost of precious metal, which grew by 43% from June 2024.
However, the investor and founder of Alpine Fox LP Mike Alfred considers the purchase of gold, which he calls “physical bitcoin”. Instead of investing money in precious metal and stablecoins based on it, Mike calls on to invest in “digital gold” – bitcoin, which, in his opinion, will rise much more.
Be in the know! Subscribe to Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
