Max Keiser Rejects Michael Saylor’s Stablecoin Idea, Champions Bitcoin Standard
Popular crypto analyst and broadcaster Max Keiser has recently commented on the proposal by Michael Saylor for the United States to create a $10 trillion stablecoin pegged to Bitcoin, calling this idea not plausible given the restrictive policy of USD.
Keiser framed the US dollar as “the ultimate proof-of-stake shitcoin,” emphasizing that it derives its value from control and exclusion rather than openness and neutrality.
Max Keiser Slams Saylor’s Bitcoin Stablecoin Idea
Max Keiser, a well-known crypto analyst and broadcaster, has offered a sharp critique of the global financial system, this time targeting the idea of a Bitcoin-backed US stablecoin.
Commenting on Michael Saylor’s proposal for the US to create a $10 trillion Bitcoin-pegged stablecoin, Keiser dismissed the idea as unrealistic, citing the restrictive nature of US dollar policies. He described the USD as “the ultimate proof-of-stake shitcoin,” arguing that its value stems from centralized control and exclusion, rather than the transparency and neutrality championed by decentralized systems like Bitcoin.
.@Saylor’s idea, that the US creates a $10 trillion stable coin backed by Bitcoin is unlikely to happen because the US is extremely restrictive about who gets to use the USD.
The USD is the ultimate proof-of-stake shitcoin, and the US government is never going to open-source… pic.twitter.com/nT5ckmP0K8
— Max Keiser (@maxkeiser) December 21, 2024
Keiser contrasted the USD’s foundation of force with Bitcoin’s ethos of peace, referring to El Salvador’s adoption of a Bitcoin standard under President Nayib Bukele as a prime example of a peaceful financial revolution. Reaffirming its Bitcoin commitment with the promse to buy up another 20,000 BTC, Keiser says El Salvador is leading the way toward a more just and transparent monetary system.
Max Keiser, further asserted that the US can’t create an SBR without collapsing the USD and ultimately losing world power. But El Salvador, on the other hand, is in a rare position to do so: under President Nayib Bukele, it has increased daily purchases, setting an ambitious short-term target of adding another 20,000 BTC to its reserves. This bold strategy underlines El Salvador’s commitment to the Bitcoin standard and the rewriting of its economic trajectory.
Michael Saylor Urges US to Leverage Stablecoins to Strengthen the Dollar
Max Keiser focused mainly on the recent interview with CNBC, where Saylor laid out a plan for how the US could leverage the incoming administration of President-Elect Trump to implement a digital assets framework that would cement the dollar as the premier digital currency. Saylor blasted the onerous US stance regarding cryptocurrencies and murky regulations, forcing companies like Tether to issue dollar-backed stablecoins offshore.
He envisioned US banks one day issuing their own stablecoins and creating a multi-trillion-dollar global opportunity for the dollar.
Even though he supports Trump’s plan on Strategic Bitcoin Reserves, Saylor explained that US-issued digital dollars could tap into a $10 trillion global market, boosting demand for US treasuries used to back these tokens. It would allow the US to extend the dollar’s dominance in the new digital economy. He further went on to explain how Russia, China, Africa, and South America already utilize stablecoins such as Tether to access dollars.
This demand could be met with US banks under clear regulations, issuing stablecoins backed by treasuries and stored domestically. Saylor argues that the US should aim far beyond the $150 billion in offshore stablecoins, pushing for trillions backed by its financial infrastructure. He has gone as far as to suggest selling US gold reserves to buy Bitcoin for a strategic reserve, underlining his vision for how the nation should incorporate digital assets into its future.
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