Max Keiser Predicts Gold-Backed Stablecoins to Surpass USD-Pegged Alternatives

Bitcoin advocate Max Keiser has predicted that gold-backed stablecoins will surpass U.S. dollar-pegged alternatives in global adoption. Keiser's prediction is based on gold's reputation as a reliable inflation hedge and its low volatility, which he believes makes it a more trusted asset than the U.S. dollar, particularly for nations with strained relations with the United States.

Keiser highlighted that countries such as Russia, China, and Iran are unlikely to accept a U.S. dollar stablecoin. He suggested that these nations might instead opt for gold-backed stablecoins, given their significant gold reserves. Keiser noted that China and Russia combined hold over 50,000 tonnes of gold, which exceeds official reports.

Keiser's comments indicate that the growing interest in gold-backed digital assets could challenge U.S. efforts to maintain global financial dominance through dollar-based stablecoins. One example of a gold-backed stablecoin is Tether’s Alloy (aUSD₮), launched in June 2024 and backed by Tether Gold (XAU₮), a token linked to physical gold. Supporters argue that these tokens offer a modern alternative to fiat-backed assets.

Gabor Gurbacs, former VanEck executive and PointsVille founder, compared Tether Gold to the U.S. dollar before 1971, referencing the end of the gold standard. He noted that XAU₮ has outperformed much of the broader crypto market, with a 15.7% year-to-date increase. In contrast, U.S. officials remain focused on preserving the dollar’s role in global finance, with Treasury Secretary Scott Bessent and Federal Reserve Governor Christopher Waller emphasizing the importance of USD-pegged stablecoins in maintaining the dollar’s reserve currency status.

U.S. lawmakers have introduced several bills aimed at crafting a regulatory framework for fiat-backed digital assets, including the Stable Act of 2025 and the GENIUS bill. Tether has also engaged with U.S. lawmakers to help shape federal regulations for the stablecoin sector, confirming discussions with key figures behind the STABLE Act. The company is also seeking to contribute to two additional stablecoin bills proposed by other legislators and is working with a Big Four accounting firm to conduct an audit of its reserves.

Federal Reserve Chair Jerome Powell has affirmed the central bank’s support for developing a regulatory framework around stablecoins, emphasizing the importance of protecting consumers and savers. Powell's statements align with the broader U.S. effort to maintain the dollar’s global dominance through regulatory measures and stablecoin adoption.