Gold has been accepted as money for thousands of years and does not suffer from geopolitical or inflationary risks, unlike fiat currency.
Gold-backed stablecoins will outcompete US dollar-pegged alternatives worldwide due to gold’s inflation-hedging properties and minimum volatility, according to Bitcoin (BTC) maximalist Max Keiser.
Keiser argued that gold is more trusted than the US dollar globally, and said governments of foreign nations with an adversarial relationship to the United States would not accept dollar-pegged stablecoins. The BTC maximalist added:
The potential for gold-backed stablecoins to outcompete dollar-pegged tokens in international markets would upend plans to extend US dollar dominance through stablecoins proposed by US lawmakers.
