Arthur Hayes: I Don't Think Trump Will Be Building a Bitcoin Reserve

BlockBeats News, January 21st, BitMEX co-founder and former CEO Arthur Hayes said: "I don't think Trump is going to start accumulating bitcoin. Ultimately, I don't see the utility in borrowing money to buy bitcoin on any platform associated with Trump."

He said: "You have so much leverage before you blow up the bond market. Are you going to borrow money to buy bitcoin? Are you going to borrow money to provide health care for the elderly who voted for you, or are you going to make more bombs so that defense contractors like you? You can borrow money to buy a lot of different things. I just don't think he's going to spend it on bitcoin. While bitcoiners think bitcoin is important, there are many other stakeholders who want the borrowed money to go into their pockets."

Regarding the implementation of a bitcoin reserve, Hayes said, "I hope I'm wrong." However, he pointed out that time is limited before the midterm elections, which could restrict the ability to implement significant policy changes, and there are many other things that need time and budget allocation. (CoinDesk)