Not everyone is pleased with Bitcoin’s rise; in fact, the rally is openly irritating and frustrating Peter Schiff. The American economist describes the move that followed the SEC’s announcement on tokenized stocks as entirely illogical. According to Schiff, the news is actually bearish because tokenized securities will drain liquidity from Bitcoin. Meanwhile, the price is up +45.53% over the quarter and +8.58% since the beginning of September, with BTC trading at 85,350 USDT.
Peter Schiff considers the SEC’s move bearish for Bitcoin
On September 17, the SEC, the authority overseeing US financial markets, officially opened the door to tokenized stocks. The move comes through a conditional exemption granted by the authority for a period of five years. The exemption allows qualified platforms to trade tokenized versions of US-listed stocks. The same exemption requires issuers to receive 30 days’ notice before trading begins. Listed companies also retain the right to block the tokenization of their securities.
Peter Schiff, a well-known gold supporter and longtime critic of Bitcoin, offers a different reading of the market. In the economist’s view, tokenized shares of profitable companies, complete with dividends, are a superior store of value. This leads to his final warning: tokenized securities will ultimately drain liquidity from Bitcoin itself.
Tokenized stocks are now worth $3.01 billion
The figures help put the alleged competitor cited by the American economist into perspective. According to data from rwa.xyz, the distributed value of tokenized stocks has reached $3.01 billion. Growth over the past 30 days stands at +14.09%, with a clear acceleration on the chart. The number of holders has risen to 3.72 million, up +82.10% over the same 30-day period. However, monthly transfer volume stands at $12.61 billion, while monthly active addresses exceed 2.4 million, up 64.69%.
Robinhood leads monthly growth among platforms
The platform rankings show where growth in the sector is actually concentrated. Robinhood recorded an increase of +334.1% over the past 30 days, the strongest performance in the group. It was followed by Securitize at +47.39% and bStocks at +29.70% over the same period. Ondo remains the leading platform by overall value, at $854.0 million, despite a 1.55% decline.
Stablecoins show that tokenization coexists with Bitcoin
Recent history already provides a test case for Schiff’s thesis. Stablecoins are the most widely used tokenized asset and have a combined market capitalization of $305.089 billion. Tether accounts for 60.08% of the entire stablecoin sector. Over 30 days, USDC has grown by +1.13%, while Ethena USDe has advanced by +18.71%. The chart shows an expansion that began from less than $50 billion in 2021. Their multiyear rise has not emptied Bitcoin of liquidity; on the contrary, it fuels trading in the asset every day.
The balance of power leaves the liquidity debate open
The comparison between tokenized stocks and stablecoins currently puts Schiff’s warning into perspective. Blockchain-based securities are worth approximately one-hundredth of the digital-dollar sector alone. Bitcoin’s market capitalization, at the current value of 85,800 USDT, stands at approximately $1.721 trillion. The gap between the $3.01 billion value of tokenized stocks and that figure remains enormous. Many observers also view the SEC’s decision as legitimizing blockchain infrastructure as a whole. Markets interpret such recognition as support for the crypto sector overall.
