US Debt Expansion and Stereotypes Hinder America's Bitcoin Accumulation

On May 4, according to Cryptonews, BitMEX co-founder Arthur Hayes stated that the US government is unlikely to increase its Bitcoin reserves through direct purchases due to two main factors: the ever-expanding national debt pressure and the public's stereotype of Bitcoin investors (the so-called 'Bitcoin bros'). Arthur Hayes believes that inherent stereotypes can influence policymakers' decisions.

The US government officially holds over 198,000 Bitcoins, valued at over $18 billion, mainly seized from criminal investigations such as Silk Road and the Bitfinex case. Although Hayes believes that expanding these reserves through direct purchases is politically unfeasible, he reiterated that Bitcoin's dominance will return to around 70% levels before 2021 and rise to $1 million per coin.