Peter Schiff just threw cold water on the whole "Bitcoin is digital gold" narrative during a recent blockchain conference.

His take? Pretty straightforward. "It's digital, but it isn't gold," he said. The distinction matters to him—a lot. According to Schiff, if you want actual digital gold, you're looking at tokenized gold. Why? Because that's backed by the real thing.

The longtime gold advocate isn't buying the comparison. For him, Bitcoin lacks the fundamental backing that makes gold... well, gold. Tokenization of physical gold creates that digital bridge. Bitcoin doesn't.

It's the same argument he's been making for years, just with a crypto-native audience this time around.