# Peter Schiff Doubts Dollar-Pegged Stablecoins Peter Schiff, CEO of Euro Pacific Capital and well-known Bitcoin skeptic, has expressed confusion regarding the utility of dollar-pegged stablecoins. He argues that if a third-party custodian is required, opting for a token linked to the US dollar, a "flawed fiat currency," seems illogical. # Gold-Backed Stablecoin Alternative? Schiff suggests that a gold-backed token would be a superior alternative. He even hinted at potentially launching his own gold-based stablecoin, indicating a belief in the value of commodity-backed digital assets. This skepticism highlights ongoing debates about the true value and security of various cryptocurrency models, particularly when compared to traditional assets like gold. While Bitcoin's decentralized nature appeals to some, Schiff questions the logic of replicating the dollar's weaknesses in the digital realm through stablecoins. ```

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