Max Keiser labels the US dollar overly centralized, contrasting it with Bitcoin's openness and neutrality.
El Salvador advances its Bitcoin strategy, committing to purchase 20,000 BTC.
Michael Saylor proposes regulated stablecoins backed by US treasuries, aiming to boost the dollar's global standing.
Crypto analyst and broadcaster Max Keiser has condemned Michael Saylor’s recent bid for a Bitcoin-backed US stablecoin. Saylor suggested that the United States could create a $10 trillion stablecoin pegged to Bitcoin, aiming to maintain the dollar’s global standing. Keiser dismissed the idea, citing restrictive US dollar policies as a fundamental obstacle.
Concerns Over the US Dollar’s Stability
Max Keiser, via his X account, claimed that enforcing a Strategic Bitcoin Reserve would destabilize the US dollar. He suggested that such actions could undermine the dollar’s global dominance and economic influence.
https://twitter.com/maxkeiser/status/1870448930112283046
Keiser described the US dollar as the ultimate proof-of-stake shitcoin, claiming its value relies on centralized control and exclusion. He argued that this contrasts sharply with Bitcoin’s principles of openness and neutrality.
He also pointed to El Salvador’s adoption of Bitcoin under President Nayib Bukele as a successful illustration of a peaceful financial revolution, with the nation recently committing to purchasing an additional 20,000 BTC. Keiser highlighted El Salvador’s contrasting position, noting that the country’s strategic Bitcoin investments align with its efforts to rewrite its economic narrative.
El Salvador’s strategy includes daily Bitcoin purchases, with plans to increase its reserves. Keiser noted that these actions demonstrate the nation’s commitment to adopting a Bitcoin standard, further differentiating its financial approach from the US.
Michael Saylor’s Stablecoin Vision
In a recent interview, Saylor summarised his vision for leveraging stablecoins to maintain the dollar’s global dominance. He proposed that the US could issue stablecoins through domestic banks under clear regulatory frameworks. This strategy, he argued, would expand the dollar’s reach in the digital economy while boosting demand for US treasuries.
Saylor noted that many regions, including Russia, China, Africa, and South America, already use offshore stablecoins like Tether to access dollars. He emphasized that the US could capitalize on this demand by offering stablecoins backed by treasuries. Additionally, Saylor suggested that the US should consider selling some of its gold reserves to invest in Bitcoin for a strategic reserve, further integrating digital assets into the country’s financial framework.
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