Arthur Hayes Skeptical of U.S. Bitcoin Strategic Reserve: “Bitcoin Bros at the Club” Could Undermine Adoption Narrative

AI Summary

BitMEX Co-Founder Doubts U.S. Will Buy More BTC Despite $18B Holdings

Arthur Hayes, the co-founder of BitMEX, has cast doubt on the likelihood of the United States government expanding its Bitcoin reserves, citing the country’s rising debt, political optics, and the cultural perception of crypto holders. In a May 1 interview, Hayes argued that the idea of the U.S. printing money to buy Bitcoin is politically unpalatable, especially amid persistent stereotypes around so-called "Bitcoin bros."

Hayes: U.S. unlikely to purchase more Bitcoin beyond seized funds

“The United States is a deficit country; the only way they can do a strategic reserve is by not selling the Bitcoin they took from people,” said Hayes, referencing the 198,012 BTC already held by the U.S. government — currently valued at over $18 billion. These holdings stem largely from seizures related to Silk Road, Bitfinex, and other enforcement actions.

Hayes questioned whether any elected official would risk political backlash by proposing to print dollars to buy more BTC, especially while mainstream narratives continue to portray Bitcoin users as club-hopping tech bros.

“Is that really what you want people to think about your policy?” Hayes asked.

Strategic reserve talk raises global accumulation fears

The idea of a U.S.-led strategic Bitcoin reserve has gained momentum following former President Donald Trump’s March 6 executive order to create a national digital asset stockpile. While the current reserve is composed entirely of seized assets, the order has fueled speculation of future purchases.

Crypto leaders warn that such a move could ignite a global race for BTC.

“If the U.S. starts buying Bitcoin for a reserve, other countries will rush to accumulate it too,” said 1inch co-founder Sergej Kunz at Cointelegraph’s LONGITUDE event in Dubai.

Hayes still sees a traditional Bitcoin-to-altcoin rotation

While dismissive of the U.S. Bitcoin reserve idea.