Sure, but a main point of a crypto currency is realizing there's no reason to back a monetary currency with anything. It's just a shared hallucination. There's no rational reason a new currency would be "based" on btc holdings. That's just silly.

My view is that the upper end of btc viability is taking over some fraction of why people want gold. The system is way too expensive for a viable txn network (a la cash or Visa) and will never become one.