U.S. Government Won’t Buy Bitcoin for a Reserve, Says BitMEX co-founder Arthur Hayes
Arthur Hayes has some doubts about the U.S. hopping on the Bitcoin train anytime soon.
Why? Well, let’s just say the government’s got a little thing called debt… and a big image problem.
“Bitcoin bro” culture – does that really inspire confidence? #Crypto #BTC #ArthurHayes
— The Coin Republic (@TCR_news_) May 3, 2025
Printing Money Won’t Save Bitcoin
Arthur Hayes, ever the realist, pointed out that the U.S. simply can’t justify printing money to buy Bitcoin while buried under a mountain of debt. The idea that elected officials would vote in favor of this sounds like a fever dream—especially when the public’s view of Bitcoin is still tainted by images of “Bitcoin bros” dancing in clubs. Oh, and let’s not forget that the U.S. already holds a humble stash of 200,000 BTC seized from criminals, but Hayes doesn’t believe the government plans to expand that collection anytime soon.
As for Trump’s executive order to create a “strategic digital asset reserve”? Hayes isn’t buying it. With midterms looming, Hayes is convinced there’s no time for any real changes in the crypto game. “People are desperate. And when desperation hits, disappointment follows, usually in the form of a brutal Bitcoin crash,” he quips. Oh, the sweet irony of “Trump trades” looking more like “Trump traps.”
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Despite his skepticism about short-term moves, Hayes remains a die-hard Bitcoin bull for the long haul. He predicts the U.S. dollar will soon feel the sting of devaluation under Trump’s economic strategy (because nothing says “stable currency” like a bit of gold-backed chaos). This could very well open the door for Bitcoin to soar, as the world looks for alternatives.
Hayes also believes that China might step in with a crypto boost, especially if Hong Kong ETFs start welcoming mainland investors. And don’t forget about Europe—if inflation continues its assault, some EU governments might be quietly stacking crypto in the background.
His bold prediction? Bitcoin might just hit $1 million by 2028. However, Hayes is quick to add that the road to that milestone will be anything but smooth. In the meantime, his Bitcoin-led altcoin cycle strategy remains a beacon of hope—though some analysts are still doubting whether history will repeat itself like it did in 2021. The suspense is real, folks.
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2025-05-03 10:24