Will the United States buy Bitcoin? Is the Altcoin season coming? Crypto billionaire Bull Arthur Hayes responds

BitMEX co-founder Arthur Hayes stated that the United States is unlikely to significantly increase its Bitcoin (BTC) reserves due to rising national debt and cultural perceptions towards Bitcoin investors.

In an interview, Hayes expressed skepticism about the idea of the United States creating a "strategic Bitcoin reserve" beyond the current holdings of approximately 200,000 BTC, most of which includes cryptocurrencies seized from cases such as Silk Road and Bitfinex.

“The U.S. is a deficit nation,” Hayes said, “The only way to establish a strategic reserve fund is not to sell the Bitcoin they have seized. Okay, so that’s 200,000 BTC.”

Recalling that the U.S. government officially owns over 198,000 BTC and the value of these assets exceeds $18 billion, Hayes argued that increasing reserves by purchasing Bitcoin directly is politically unrealistic.

Hayes noted that it is very difficult for any "decent elected official" to support printing money and buying BTC, which he pointed out is contrary to public perception of Bitcoin.

On the market side, Hayes reiterated that he expects Bitcoin's market dominance to return to pre-2021 levels, around 70%, which he stated indicates a recovery of altcoins after a typical Bitcoin bull market.

“Bitcoin has returned to its all-time highs; the bull market is back and altcoins will outperform,” Hayes said, “The 'from' is very important here. It depends on what you buy.”