Recently, Max Keiser took a firm stance against Michael Saylor’s notion of a Bitcoin-backed stablecoin, labeling it as unrealistic and underscoring a larger conversation regarding the US dollar. Keiser didn’t hold back, characterizing the USD as the ultimate proof-of-stake shitcoin, where its value is rooted in centralized control rather than the decentralization and transparency inherent in Bitcoin.
In a recent chat, Keiser expressed skepticism towards Saylor’s proposal for a $10 trillion stablecoin pegged to Bitcoin, pointing out the US dollar’s restrictive nature. He stated plainly that creating such a stablecoin would be virtually impossible because of the government’s tight grip on who can access the USD. He articulated, “The USD is the ultimate proof-of-stake shitcoin.”
In contrast, Keiser finds inspiration in El Salvador, which, under President Nayib Bukele, is boldly embracing a Bitcoin standard. He highlighted the country’s commitment by mentioning its ambitions to buy an additional 20,000 BTC, presenting El Salvador as a trailblazer in establishing a more equitable financial system. Keiser views this as a significant step toward a future where Bitcoin can function free from the constraining policies of the traditional banking system.
While Saylor advocates for the US to capitalize on digital currencies and create a framework to maintain the dollar’s supremacy, Keiser strongly believes that the government cannot successfully create a stablecoin reserve without destabilizing the USD and, in essence, its global dominance. Saylor envisions a future where all US banks issue stablecoins, thereby tapping into a multi-trillion-dollar opportunity, but Keiser sees this plan as a misstep.
Throughout all this, it’s evident that Keiser and Saylor stand on opposite sides of a growing debate about digital finance. While Saylor is optimistic about the role of stablecoins in bolstering the dollar, Keiser champions Bitcoin as the ideal standard for the future. The battle lines are drawn, and as the cryptocurrency landscape evolves, both voices will continue to shape the discourse around the future of money.
As various players propose unique solutions for our financial system, one thing remains clear: the conversation around cryptocurrency is becoming not only relevant but essential in today’s world.
