Max Keiser Advocates for Gold-Backed Stablecoins in Response to Dollar Dominance

Gold-backed stablecoins like Tether's Alloy rise as dollar-pegged options face resistance.

BRICS nations' 50,000-tonne gold stockpile challenges U.S. dollar-backed stablecoins.

Gold’s 15.7% growth in 2025 contrasts with broader crypto market decline, fueling demand,

Bitcoin advocate Max Keiser predicts that gold-backed stablecoins will overtake U.S. dollar-pegged alternatives in global markets. He shared this view in a March 22, 2025, post on X, emphasizing gold’s stability and its appeal as an inflation hedge. Keiser’s statement comes as nations like Russia, China, and Iran, which hold significant gold reserves, show reluctance to adopt dollar-based digital currencies. This shift could challenge U.S. efforts to maintain financial dominance through stablecoins.

Tether, a leading stablecoin issuer, launched Alloy (aUSD₮) in June 2024, a gold-backed token tied to its XAU₮, which tracks physical gold. Gabor Gurbacs, founder of PointsVille and a former VanEck executive, praised this move on March 19, noting XAU₮’s 15.7% rise year-to-date. He contrasted this growth with the broader crypto market’s decline, highlighting gold’s enduring value. The surge aligns with gold prices hitting record highs, nearing $3,000 per ounce.

U.S. Pushes Dollar-Pegged Stablecoins to Secure Reserve Status

U.S. policymakers advocate a different approach. Treasury Secretary Scott Bessent, speaking at the White House Crypto Summit on March 7, 2025, stressed that dollar-pegged stablecoins remain a priority for the Trump administration. He argued they reinforce the dollar’s role as the world’s reserve currency. According to comments made before the summit, Federal Reserve Governor Christopher Waller supported this stance, suggesting stablecoins enhance global dollar use.

Congress also acts to regulate these assets. Lawmakers introduced the Stable Act of 2025 and the GENIUS bill to create a framework for dollar-backed digital tokens. As confirmed last month, Tether engages with U.S. officials, including Representatives Bryan Steil and French Hill, to shape these regulations. The company collaborates with a Big Four accounting firm to audit its reserves, ensuring transparency, said CEO Paolo Ardoino.

Gold vs. Dollar: A Shifting Financial Landscape

Keiser warns that nations opposing U.S. influence favor gold-backed options. He estimates China and Russia hold a combined 50,000 tonnes of gold, far exceeding official figures. This stockpile could fuel a competitive alternative to dollar-based stablecoins, he claims. Such a move might disrupt U.S. plans, especially as BRICS countries explore ways to counter dollar hegemony.

Meanwhile, during a Senate hearing last month, Federal Reserve Chair Jerome Powell endorsed a stablecoin regulatory framework. He emphasized consumer protection and financial stability. The debate reflects a broader tension: gold’s historical reliability versus the dollar’s modern dominance.