BitMEX co-founder Arthur Hayes expressed a skeptical view about the possibility of the U.S. government purchasing additional Bitcoin (BTC) as a strategic reserve asset. He argued that the United States finds it difficult to take an expansive approach to Bitcoin due to massive fiscal deficits and the stereotype of 'Bitcoin bros'.
In an interview on the 1st, Hayes said, "I do not have high expectations for the scenario where the United States will seriously accumulate Bitcoin as a strategic reserve asset" and "As the U.S. is a deficit country, it is more likely to only retain the approximately 200,000 Bitcoin already seized, rather than purchasing additional Bitcoin".
He emphasized that for the concept of strategic reserves to be established, the government must purchase Bitcoin in the market or demonstrate a long-term intention to hold it. However, the current U.S. government continues to convert seized Bitcoin into cash through auctions obtained through criminal investigations. From this perspective, there is an analysis that an official government accumulation strategy is essentially absent.
Hayes also pointed out that "prejudice against Bitcoin holders still exists, and it cannot be ignored that policymakers might be influenced by this image". He added that a strategic approach to Bitcoin is deeply connected not only to industry scale and technical value but also to cultural perception.
The U.S. Treasury authorities have not yet disclosed specific plans to utilize Bitcoin at the monetary policy level. While some expect that former President Trump's pro-cryptocurrency stance could promote new discussions, Hayes maintains his position that it is difficult for a country dependent on government bond issuance to adopt digital assets as practical reserve assets.
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