Arthur Hayes: “I don’t think Trump will ever create a bitcoin reserve”

Photo of author

By Berto R

  • Hayes again emphasized that the upcoming elections are an obstacle to further reforms.

  • Despite this, Arthur hopes that the government will find a way to launch the reserve.

Arthur Hayes, investment director at Maelstrom, has expressed his doubts about the possibility that Donald Trump’s government will be able to approve the creation of a strategic reserve of BTC, a measure that many American bitcoiners have been waiting for several months. The statement was shared by Hayes on his X profile.

The businessman stated: “I don’t think the president will succeed in creating a BTC reserve… At the end of the day, I don’t know how borrowing money to buy bitcoin on one of Trump’s platforms helps.”

Of course, the former CEO of BitMEX stated that he hopes he is wrong, a position that follows the same line as his December statements. On that occasion, although he expressed that he did not believe that the Trump government had the time necessary to implement significant changes, he acknowledged that he did not have the absolute truth and that he could be wrong. This time, according to Coindesk, Hayes once again pointed out the midterm elections as the main obstacle to carrying out important reforms.

«There is a limited capacity to borrow before you destroy the bond market. “So, will you borrow to buy bitcoin, finance the health of the elderly, or to spend more on defense and weapons to please the military industry lobbies?” Hayes said.

What the businessman means is that Governments have a limit on how much they can borrow before it negatively affects the bond market.. He then spoke about the priorities of the States and how they make decisions about the funds they borrow.

Bitcoin or health and defense? Arthur Hayes reflects on spending decisions and the impact on the bond market. Source: @CryptoHayes

In this way, Maelstrom’s investment director doubles down and adds: «There are many different things for which you can borrow money. “I don’t think they’re going to spend it on BTC… Although bitcoin fans think they’re important, there are a lot of other stakeholders who want that borrowed money to go into their pockets.”

It is worth noting that Arthur recently expressed interest in the TRUMP memecoin. This cryptocurrency, presented on January 17, quickly captured the attention of the cryptocurrency community, with a price per token that rose to $60 in a short time – right now, its price is $37.05, according to data from CoinMarketCap-. However, it also sparked criticism and controversy, but the former BitMEX CEO highlighted its potential as an example of “on-chain political responsibility.”

As for Trump, the truth is that, despite the great expectations generated by his campaign, in the end he did not include bitcoin in his first executive orders as the new head of state. This omission surprised many in the cryptocurrency community, as the creation of a national BTC reserve was one of the most anticipated measures; He also did not sign the expected pardon for Ross Ulbritch, although Elon Musk recently stated in X that the founder of Silk Road will be released.

Leave a Comment