From Ponzi Scheme to Payment Reality: How CZ Defends Bitcoin On December 4, 2025, at Binance Blockchain Week Dubai, Peter Schiff criticized Bitcoin as a 'Ponzi scheme for 300 million people' but admitted that gold payments are currently unfeasible, only imagining an extreme scenario of '2% weekly inflation' to force merchants to accept it. CZ clapped back on the spot: the recent drop in gold prices hurts merchants even more, while Bitcoin has already achieved 'seamless payments' on the user side. Addressing concerns about Bitcoin price crashes, CZ pointed out that fiat purchasing power is constantly changing, and 'stablecoins' are actually a false proposition because 'nothing in this world is truly stable.' Source: Binance Blockchain Week Dubai 2025