El Salvador has made headlines once again after revealing its biggest-ever single-day Bitcoin purchase. Even as the market bleeds and Bitcoin trades at its lowest levels in months, the country doubled down on its strategy, strengthening the “buy the dip” narrative. On Monday evening, El Salvador added 1, 090 BTC worth roughly $100 million to its reserves. This pushed the nation’s total holdings to 7, 474 BTC, now valued at around $676 million. President Nayib Bukele shared the update on X, reinforcing the country’s commitment to growing its Bitcoin treasury despite strong market pressure. El Salvador Buys Bitcoin During the Dip Bitcoin briefly dropped below $90,000, touching its lowest level since April. El Salvador seized the opportunity, continuing its pattern of accumulating larger amounts whenever prices fall. The government has been stacking Bitcoin consistently since November 2022 through its “1 BTC per day” strategy, and Monday’s major addition aligns perfectly with its long-term accumulation plan. IMF Agreement Conflict Raises Questions The latest purchase comes against the backdrop of El Salvador’s $1. 4 billion IMF agreement, which requires the public sector to stop making new Bitcoin purchases. Earlier this year, finance officials stated that no Bitcoin had been bought since February-directly contradicting Bukele’s public announcement. An IMF report added further complexity, noting that increases in Bitcoin reserves could come from internal wallet movements or consolidations, not necessarily new purchases. This leaves the origin of the 1, 090 BTC open to interpretation. Bitcoin Office Defends Government Strategy Despite the conflicting statements, El Salvador’s Bitcoin Office maintains a firm stance. Stacy Herbert, head of the office, emphasized that the blockchain itself records and verifies the nation’s Bitcoin activity. Her comments highlight the government’s insistence that its accumulation efforts remain transparent and intentional. El Salvador Reinforces Long-Term Bitcoin Strategy The latest addition of 1, 090 BTC underscores El Salvador’s determination to continue treating Bitcoin as a long-term national asset. The government remains committed to buying dips, growing its treasury, and positioning Bitcoin at the center of the country’s economic vision. Despite external pressure, IMF restrictions, and differing interpretations, the nation’s Bitcoin accumulation strategy shows no signs of slowing.
https://coinpedia.org/news/el-salvador-makes-biggest-ever-bitcoin-purchase-as-prices-hit-multi-month-low/
Tag Archives: consolidations
CZ Reveals Real Reason Tokenized Gold Has Not Taken Off
**Changpeng Zhao (CZ) Responds to Peter Schiff’s Tokenized Gold Plans**
Changpeng Zhao (CZ), founder and former CEO of Binance, has recently commented on Peter Schiff’s announcement regarding a tokenized gold product. Schiff, a well-known gold proponent, is making a notable pivot by embracing blockchain technology to tokenize gold, aiming to make it more accessible and transferable. However, CZ remains skeptical about the idea.
### CZ Critiques the Tokenized Gold Concept
For years, Peter Schiff has dismissed Bitcoin (BTC), even recently forecasting an imminent crash in its price. Now, with his plans to create a tokenized gold product, he appears to be adopting blockchain technology—albeit for gold rather than cryptocurrencies.
CZ’s response, however, was a pointed critique of what he sees as a mismatch between hype and reality. He clarified that his criticism was not aimed at gold itself, but at the tokenization model. According to CZ, tokenized gold often amounts to little more than a digital claim on physical gold held by a central custodian. In other words, individuals do not truly hold gold “on-chain.” Instead, it resembles a bank promise to return deposits.
The risk lies in trusting the issuer: if they go bankrupt, get hacked, or change ownership, the guarantees tied to these tokens could fail. While physical gold endures through time, CZ pointed out, such promises may not. He questioned whether a third party could reliably deliver on their commitments years down the line, especially amid wars and economic disruptions.
Describing the proposed product as a “trust me bro” token, CZ suggested this inherent trust risk explains why no tokenized gold project has truly taken off. This touches on a broader debate about blockchain’s promise. Schiff’s approach offers convenience with a gold twist, but CZ reminds the community that true innovation in blockchain lies in removing the need to outsource trust.
### Peter Schiff Faces Additional Criticism Following Gold’s Price Drop
Meanwhile, Peter Schiff has come under more fire within the cryptocurrency ecosystem after gold prices plunged to record lows on Wednesday, October 22, 2025.
A report by U.Today highlighted commentary from veteran crypto trader Peter Brandt, who took a playful jab at Schiff. Brandt shared a historical chart illustrating that gold investors have endured a difficult journey, often facing deep and long-lasting consolidations over the years. Despite this, gold has averaged a modest annual return of 3.6% over the past 45 years.
Interestingly, Schiff had predicted earlier this month that gold could soar to $6,000 by Christmas, outperforming both Bitcoin and the S&P 500. Contradicting this forecast, gold’s price dipped below $4,100 on Wednesday, fueling recent skepticism and criticism.
On the other hand, Bitcoin continues to experience volatility but is showing signs of recovery. Over the past 24 hours, BTC’s price marginally increased by 1.17%, reaching $109,629.
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As Schiff ventures deeper into blockchain-based gold products, the debate on trust, innovation, and the future of tokenized assets is sure to intensify. Meanwhile, market movements keep testing the forecasts of both gold and cryptocurrencies alike.
https://u.today/cz-reveals-real-reason-tokenized-gold-has-not-taken-off