Arthur Hayes: Bitcoin $BTC as a Global Reserve Asset
In his latest essay “The Genie”, Hayes outlines key insights:
🔹 Holding BTC reserves is risky—future administrations might sell them.
🔹 A new system is needed where the dollar remains the trade currency, and BTC becomes the reserve asset.
🔹 Bitcoin will be a global reserve when it hits $1.8M per BTC.
🔹 The U.S. has advantages in mining due to energy resources and chip production.
🔹 The current BTC rally to $110K is driven by over-optimism about Trump’s policies.
