23-3-2025 – Prominent Bitcoin advocate Max Keiser has put forth a bold prediction regarding the future of stablecoins, suggesting that gold-backed digital currencies could eclipse their US dollar-pegged counterparts on the global stage.
The financial landscape witnessed a significant shift when Tether unveiled Alloy (aUSD₮), their innovative gold-backed stablecoin in June 2024. This digital asset, underpinned by Tether’s XAU₮ token, represents a claim on physical gold holdings. Tether Gold’s founder, Gabor Gurbacs, drew parallels between their product and the pre-1971 dollar, highlighting XAU₮’s impressive 15.7% year-to-date performance amidst broader cryptocurrency market downturns.
Keiser’s analysis suggests that nations maintaining contentious relationships with the United States, particularly Russia, China, and Iran, would likely reject dollar-pegged stablecoins in favour of gold-backed alternatives. He claims these nations collectively possess gold reserves exceeding 50,000 tonnes, surpassing officially reported figures.
Meanwhile, the American political establishment has been orchestrating efforts to maintain dollar supremacy through stablecoin regulation. Treasury Secretary Scott Bessent, speaking for the Trump administration, emphasised stablecoins as a crucial policy priority during the White House Crypto Summit on 7 March. This stance found support from Federal Reserve Governor Christopher Waller, who advocated for stablecoins as instruments to bolster the dollar’s global influence.
The legislative response has manifested in various proposals, including the Stable Act of 2025 and the GENIUS stablecoin bill, aimed at establishing comprehensive regulatory frameworks for fiat-based tokens. However, these initiatives may face unexpected challenges from the rising popularity of gold-backed digital assets, potentially reshaping the international financial order.
