Max Keiser Predicts Gold-Backed Stablecoins to Surpass USD-Backed Variants

Max Keiser, a well-known Bitcoin maximalist, has predicted that gold-backed stablecoins will surpass USD-backed stablecoins in global markets. Keiser's assertion is based on the idea that gold-backed stablecoins offer a more stable and inflation-resistant alternative to USD-backed stablecoins. He believes that countries with adversarial relationships to the United States, such as Russia, China, and Iran, would prefer gold-backed stablecoins over USD-backed ones. Keiser also noted that these countries possess significant gold reserves, which could be leveraged to support gold-backed stablecoins.

Keiser's argument is grounded in the historical stability and universal acceptance of gold as a store of value. He suggests that gold-backed stablecoins would provide a more reliable hedge against inflation and economic uncertainty, making them a more attractive option for countries seeking to insulate their economies from the volatility of the US dollar. This perspective is particularly relevant in the current geopolitical climate, where many nations are exploring alternatives to the US dollar as a reserve currency.

The potential for gold-backed stablecoins to outcompete USD-backed stablecoins is not without its challenges. One of the primary obstacles is the regulatory environment, which varies significantly from one country to another. Additionally, the infrastructure required to support gold-backed stablecoins, including secure storage and verification systems, is still in its early stages of development. Despite these hurdles, Keiser's argument highlights a growing trend towards decentralized and asset-backed digital currencies, which could reshape the global financial landscape in the years to come.

Keiser's comments come at a time when the use of stablecoins is on the rise, driven by the increasing adoption of cryptocurrencies and the need for stable digital assets in financial transactions. Gold-backed stablecoins, with their inherent stability and resistance to inflation, could emerge as a key player in this evolving market. As more countries explore the benefits of gold-backed stablecoins, the competition between gold-backed and USD-backed stablecoins is likely to intensify, potentially leading to a shift in the global financial order.

Tether, a prominent stablecoin issuer, launched a gold-backed stablecoin called Alloy (aUSD₮) in June 2024. This stablecoin is backed by Tether's XAU₮, a token that provides a paper claim to physical gold. According to Gabor Gurbacs, founder of PointsVille and former executive at VanEck, "Tether Gold is what the dollar used to be before 1971." Gurbacs also noted that XAU₮ has shown strong performance, with a 15.7% increase year-to-date, while the broader crypto market has been in the red. He suggested that foundations and businesses should consider hedging their holdings with XAU₮.

US policymakers, however, have a different perspective. United States Treasury Secretary Scott Bessent indicated that the Trump administration would focus on using dollar-pegged stablecoins to protect the dollar's reserve currency status and ensure US dollar hegemony in global financial markets. Federal Reserve governor Christopher Waller also expressed support for using stablecoins to prop up the US dollar. Several stablecoin bills have been introduced by US lawmakers to establish a comprehensive regulatory framework for tokenized fiat assets, including the Stable Act of 2025 and the GENIUS stablecoin bill.