Key notes
- One X user pointed out that the audit of Fort Knox’s gold reserve remains stalled.
- Changpeng Zhao responded by saying that it is difficult to verify gold.
- He tagged Peter Schiff, suggesting a jab at the well-known Bitcoin critic.
Binance founder Changpeng ‘CZ’ Zhao has taken to popular Bitcoin (BTC) critic Peter Schiff with a strong argument against gold. In a November 8 post on X, the cryptocurrency pioneer clearly stated that traditional metal assets are “difficult to verify.” His statement comes as questions arise on X about Fort Knox’s stalled 2025 audit.
What happened to the gold audit at Fort Knox?
There appear to be discussions about the verifiability of gold reserves compared to the transparency of digital assets like Bitcoin. An American X user noted the lack of progress in auditing US gold reserves at Fort Knox.
Specifically, he asked: “What happened to the audit at Fort Knox?” And to this, Czechoslovakia responded“Gold is difficult to verify.”
He tagged Peter Schiff in the post, suggesting he may have taken a hit. Schiff is a well-known gold advocate and economist who takes every opportunity to criticize the leading cryptocurrency Bitcoin. Then, on the one hand, is Czechoslovakia, which believes that Bitcoin can overtake gold in the future.
Gold is difficult to verify @Peter Schiff
— Czechoslovakia
BNB (@cz_binance) November 8, 2025
The US Treasury’s gold reserves are said to be 261.5 million troy ounces, of which 147.3 million troy ounces are stored at Fort Knox. Some sources claim that the last time this reserve saw a comprehensive review was in 1953, about 72 years ago. There have been periodic calls for transparency, but to this day, no full audits have been conducted.
Tokenized gold is not physical gold
The Czechoslovakia strike is likely intended to point to gold’s lack of verifiability as a weakness compared to cryptocurrencies.
As an asset based on blockchain technology, Bitcoin and other cryptocurrencies promote transparency by providing a record of all transactions.
The rivalry between gold and Bitcoin extends largely within the financial sector. In October, Schiff announced its plan to enter the tokenization space for real assets (RWAs) by launching a tokenized gold product. Through this product, users can buy and transfer gold digitally. Czechoslovakia quickly intervened, pointing out that tokenized gold was not the same as having physical gold on the chain.
The founder of Binance has warned investors about the limitations of tokenized gold, noting that it relies on trust in a third party to deliver the physical asset. Interestingly, this may happen after several decades, even in the face of administrative changes or geopolitical turmoil.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-life applications of blockchain technology and innovations to drive public acceptance and global integration of emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to popular blockchain media and websites.
The post ‘Gold is Difficult to Verify’: CZ Pokes Bitcoin Critic Peter Schiff first appeared on Investorempires.com.
