Arthur Hayes, co-founder of crypto exchange BitMEX, shared his doubts about whether the U.S. will increase its Bitcoin reserves in light of recent events.
Arthur Hayes' Doubts
In a May 1 interview, Hayes pointed out that with the U.S. already holding 198,012 Bitcoin worth over $18 billion, it is unlikely the country will increase its holdings. He stated, 'The United States is a deficit country. The only way they can do a Strategic Reserve is by not selling the Bitcoin they’ve already seized.'
U.S. Government's Position on Bitcoin
Hayes also dismissed the notion that the U.S. government would openly purchase Bitcoin, saying it would be difficult for any elected official to announce such plans. He referenced the stereotype of 'Bitcoin bros' and questioned whether that is the image the U.S. would want to project.
Hayes' View on Bitcoin's Future
Hayes remains confident in Bitcoin's dominance over altcoins. He expects Bitcoin to enter an altseason again as it did in 2021, and believes its dominance may reach 70%. Currently, Bitcoin's dominance is at 64.78%, which has been rising since the beginning of the year.
Considering Arthur Hayes' comments, the likelihood of an increase in U.S. Bitcoin reserves remains in question, prompting discussions among cryptocurrency analysts.
