Questions asking about better require that we know what is important to you. Speed of operation, resistance to forensic analysis later, or some other metric?
Assuming you want to wipe the whole disk quickly and securely, you don't want to encrypt as part of the delete/overwrite action as OP originally phrased it in their question, but rather you want to have the whole disk already encrypted for normal use, and then your delete/wipe action is to just zero out the key.
If the key is, as you specified, random, and stored in the computer's TPM chip, zeroing it out, while leaving entire disk encrypted (again, assuming something like properly implemented AES) will be extremely fast regardless of disk size, and more secure than just overwriting all the files.