diff --git a/CHANGELOG.md b/CHANGELOG.md
index 410a2106..4c0332a6 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,11 @@
   attempts per peer, with a configurable limit.
   [PR 1506](https://github.com/libp2p/rust-libp2p/pull/1506)
 
+- `libp2p-core`: `PeerId`s that use the identity hashing will now be properly
+  displayed using the string representation of an identity multihash, rather
+  than the canonical SHA 256 representation.
+  [PR 1576](https://github.com/libp2p/rust-libp2p/pull/1576)
+
 - `libp2p-core`: Updated to multihash 0.11.0.
   [PR 1566](https://github.com/libp2p/rust-libp2p/pull/1566)
 
diff --git a/core/src/peer_id.rs b/core/src/peer_id.rs
index 34b3ff6a..e5165857 100644
--- a/core/src/peer_id.rs
+++ b/core/src/peer_id.rs
@@ -147,7 +147,7 @@ impl PeerId {
 
     /// Returns a base-58 encoded string of this `PeerId`.
     pub fn to_base58(&self) -> String {
-        bs58::encode(self.borrow() as &[u8]).into_string()
+        bs58::encode(self.as_bytes()).into_string()
     }
 
     /// Checks whether the public key passed as parameter matches the public key of this `PeerId`.