Economist Peter Schiff expressed a preference for a gold-backed cryptocurrency over Bitcoin during a crisis like the one in Iran. Schiff stated that he would choose tokenized gold over Bitcoin for transactions in Iran due to the currency crisis and internet ban. He emphasized the importance of having a cryptocurrency backed by real money.

Amidst the economic turmoil in Iran, the Iranian Rial has become nearly worthless against the dollar, prompting people to turn to cryptocurrencies like Bitcoin as a hedge. Schiff suggested that stablecoins or tokenized gold would be the best options for individuals in Iran looking to navigate the financial crisis.

Despite Bitcoin’s reputation as “digital gold,” it failed to live up to this status in 2025. In contrast, precious metals-backed cryptocurrencies like Tether Gold and PAX Gold saw significant gains, with both being up over 70% in the past year while Bitcoin was down 4%.

Investors seeking to diversify their portfolios have various options beyond traditional assets. Platforms like Fundrise, Rad AI, Arrived Homes, and Lightstone DIRECT offer opportunities to invest in real estate, private tech ventures, AI innovation, and institutional-grade real estate, respectively. These options provide avenues for diversification and long-term wealth building.

Read more at Yahoo Finance: Peter Schiff Has Advice For Iranians Dealing With Collapse Of Their Currency And Instead Of Bitcoin He Wants Them To Choose A Crypto Like This