Gold-backed stablecoin could outshine USD – Max Keiser

Bitcoin maximalist Max Keiser believes gold-backed stablecoins will surpass U.S. dollar-pegged alternatives globally, citing gold’s reputation as a hedge against inflation and its relative stability.

According to Keiser, gold is more trusted than the U.S. dollar globally, and said governments of foreign nations with an adversarial relationship with the United States would not accept dollar-pegged stablecoins. 

The BTC maximalist added:

Russia, China, and Iran are not going to accept a U.S. dollar stablecoin. I predict they will counter the USD stablecoin with a Gold one. China and Russia have a combined 50,000 tonnes of Gold — more than what is reported.

Max Keiser

Tether’s alloy and the rise of gold-backed digital assets

The emergence of gold-backed stablecoins may jeopardize U.S. legislators’ attempts to secure dollar supremacy via stablecoin integration, potentially transforming the world finance system.

This was followed in June 2024 with stablecoin issuer Tether announcing Alloy (aUSD₮), a gold-backed stablecoin collateralized by Tether’s XAU₮ token, a paper claim on physical gold.

Gabor Gurbacs, the founder of Tether’s Gold and a former VanEck executive, noted that Tether Gold is what the dollar was before 1971.

“XAU₮ is up 15.7% year-to-date, while the broad crypto market is in the red. Foundations and businesses should hedge their holdings with XAU₮,” the executive wrote in a March 19 X post.

U.S. pushes for dollar supremacy through stablecoin regulations

U.S. Treasury Secretary Scott Bessent said that dollar-pegged stablecoins would be a priority for the Trump administration. The administration was intent on protecting the dollar’s status as a reserve currency and U.S. dominance in finance.

While speaking at the Crypto Summit at the White House on March 7, Bessent reiterated that incorporating stablecoins into the financial system would be a critical policy priority.

Federal Reserve Governor Christopher Waller expressed similar views on Tuesday, promoting stablecoins to strengthen the U.S. dollar’s global standing ahead of Bessent’s comments at the summit.

In the meantime, U.S. legislators have filed various stablecoin legislation, including the Stable Act of 2025 and a GENIUS stablecoin bill, to establish a regulatory framework for fiat tokens.

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