Arthur Hayes, co-founder #BitMEX expressed skepticism about the United States' plans to actively replenish its strategic bitcoin reserve, despite the existing order from President Trump.
Although the USA is currently the largest state owner of bitcoins, a significant portion of these reserves came as a result of confiscations. Hayes considers it unlikely that the government will resort to printing new money for targeted purchases #BTC.
Key points:
Political obstacles: Hayes emphasizes that the idea of spending budget funds to acquire bitcoins may provoke a negative reaction from voters, especially considering the prevalent stereotypes about crypto investors.
Budget deficit: An expert points to the significant national debt of the USA as a substantial argument against an active reserve.
Fate of confiscated assets: According to Hayes, the only realistic way to increase the reserve may be to hold already confiscated bitcoins instead of selling them.
Importance for understanding the market:
The skepticism of a subtle influential figure like Arthur Hayes underscores the potential difficulties in realizing ambitious plans for a state bitcoin reserve. His opinion may affect investor sentiment and the overall perception of state policy regarding cryptocurrencies.