A head-and-shoulders pattern sets a $120 target for SOL, but bullish onchain data points to resilient longer-term fundamentals.

SOL price drop to $120 looks likely, but there’s a silver lining

Texas&#8217; Bitcoin reserve law could bolster financial resilience and set a 
precedent for other states to integrate crypto into fiscal strategies.
The post Texas governor signs Bitcoin reserve bill into law appeared first on 
Crypto Briefing.

Texas governor signs Bitcoin reserve bill into law

Stablecoin backing is under fresh fire after outspoken economist and gold 
supporter Peter Schiff took aim at tokens tied to US dollar reserves. He 
argues that relying on a fiat currency he views as shaky makes little sense 
when a more stable asset exists. Related Reading: Bitcoin Nears Climax, But A 
Twist Awaits—Analyst Reveals Key Insight His comments have reignited a 
long‑running debate about what should sit behind digital coins that promise a 
steady peg. Schiff Questions Fiat Backing According to Schiff, it makes no 
sense to support a token pegged to a currency that can be inflated away. “I 
get Bitcoin, but not US dollar stablecoins,” he wrote in a social media post. 
He pointed out that fiat money can be printed in large amounts, while gold has 
a fixed supply and centuries of use as money. Schiff said gold cannot be 
easily devalued by inflation or reckless monetary policies. I get Bitcoin, but 
not U.S. dollar stablecoins. If you&#8217;re going to introduce a third party 
custodian, why settle for a token backed by a flawed fiat currency like the 
dollar, when you can own one backed by gold? You get the same liquidity, but 
you also get a real store of value. — Peter Schiff (@PeterSchiff) June 19, 
2025 Gold‑Backed Tokens On The Rise Based on reports, gold‑backed stablecoins 
are seeing more interest from investors worried about inflation and dollar 
weakness. Tokens like Tether Gold (XAUT) and Paxos Gold (PAXG) let users move 
digital claims on physical gold. These assets give the same quick transfers 
and high liquidity as dollar‑pegged coins but tie each token to real metal 
stored in vaults. Regulatory Scrutiny Intensifies Regulators across the globe 
are racing to establish precise regulations for stablecoin reserves. Congress 
members in the US are considering tighter reserve and audit requirements. 
Europe and Asia are creating their own regulations to achieve transparency and 
safeguard users. Schiff&#8217;s call for gold introduces additional context to these 
discussions. It could lead regulators to explore whether commodities can serve 
as backing for tokens under particular regimes. Market Reaction Mixed 
According to reports, Schiff&#8217;s tweet trended, garnering over 500,000 views 
within 24 hours. Crypto naysayers applauded his observation on fiat risk. 
Other investors cautioned that gold-backed tokens have higher fees and 
cumbersome custody expenses. They explained that transferring metal or 
establishing physical reserves introduces friction when compared with 
exchanging dollar-backed coins at a bank custodian. Related Reading: Dogecoin 
Breaks Free—Could Soar 60%, Analyst Says Investors also pointed out that 
stablecoins are widely used in lending, trading and payments within DeFi 
platforms. Dollar‑pegged tokens like USDC and USDT dominate these flows 
because they tie directly into existing banking rails. Gold‑backed coins, by 
contrast, tend to be held as digital bullion rather than spent on everyday 
transactions. Featured image Imagen, chart from TradingView

Stablecoin Wars Ignite: Peter Schiff Champions Gold-Backed Digital Assets

The crypto economy has dipped 1.08% in the past 24 hours, pulling back to 
$3.16 trillion as bearish vibes rippled through the space and bitcoin touched 
an intraday low of $102,220. At the same time, tensions between Israel and 
Iran remain escalated with additional strikes exchanged, marking the second 
week of ongoing conflict in the […]

Bitcoin Languishes Below $103K as Global Tensions Rattle Markets

Despite the massive sale, ARK remains the eighth largest Circle holder.

Cathie Wood's ARK dumps $146M in Circle amid share surge

Bitcoin ( BTC) extended its streak of trading above $100,000 to more than 40 
days but closed the week at $103,355, marking a 1.3% dip. Meanwhile, bitcoin 
cash ( BCH) outshined the broader market with a near 10% gain, reaching over 
$476 as of June 21 at 12:20 p.m. EST. BTC Holds Firm Amid Global […]