Gold stablecoins are gaining momentum: a challenge to dollar-pegged tokens
08.04.2025
Gold-backed stablecoins could displace US dollar-pegged alternatives on a global scale due to gold's inflation-hedging properties and low volatility. This was stated by Bitcoin maximalist Max Keiser.Keiser emphasized that gold is more trusted than the US dollar, especially in countries with strained relations with Washington. According to him, governments of such countries will not agree to use dollar-backed stablecoins. He added:“China, Iran, and some other countries will not accept a dollar stablecoin. I predict they will propose an alternative — a gold-backed stablecoin.”The potential advantage of gold-backed stablecoins over dollar tokens in international markets could undermine the US strategy of maintaining global dollar dominance through stablecoins.US Treasury Secretary Scott Bessent stated that the Trump administration will focus on using dollar stablecoins to preserve the dollar’s status as the world’s reserve currency and ensure its hegemony in global financial markets.