- Arthur Hayes warns that Bitcoin's public image and American deficit expenses make new Federal BTC purchases.
- Senator Cynthia Lummis pushes a bold strategy to develop a BTC reserve of one million and limit the national debt in the long term.
Arthur Hayes revealed his doubt about the probability that the United States will buy more BTC, citing budgetary problems and the perception of the public. The co-founder of Bitmex said in a recent interview that American leaders could avoid printing dollars to buy Bitcoin due to an in-depth examination around the cultural image of cryptocurrency, highlighting those who go to nightclubs.
Public image and deficit expenditure increases doubts
Hayes noted that the United States is already holding around 200,000 BTC seized in criminal cases. He said that this could represent the full extent of the country's Bitcoin reserve for the moment. Speaking In Kyle Chasse on May 1, Hayes wondered if an elected official would openly support the use of printed money for Bitcoin.
Hayes said the United States is a deficit country and depends on the debt to manage its budget. He explained that the construction of a bitcoin reserve beyond the assets entered would require spending difficult to justify.
“Are you going to print money to buy bitcoin, and people see Bitcoin Bros at the club?” Hayes asked.
He said that this perception could affect the credibility of any government policy involving Bitcoin purchases. Hayes believes that the current image of crypto users can dissuade decision -makers from expanding the reserve. “Is it really the image that the government wants to project?” He added.
Is President Trump strong on the American Bitcoin Strategic Reserve?
Earlier this year, President Donald Trump signed an executive decree to establish a federal Bitcoin reserve. The program uses the BTC entered by packages, forming a stock of nearly 200,000 BTC without taxpayers. Executive Director Bo hines said more bitcoin could be added using pricing income or other neutral financing methods.
Despite the decree, Hayes remains skeptical about the fact that other purchases will be made in current political and tax conditions. In a recent conference in Capitol Hill, senator Cynthia Lummis is carrying out efforts to legislate a long -term Bitcoin reserve strategy.
She said her Bitcoin act, who has the support of Trump, would force the United States to acquire 200,000 BTC per year for five years. This would build a reserve of one million BTC held for at least two decades.
Lummis warned against increasing debt and the increase in inflation, saying that fixed supply assets like Bitcoin can offer discipline. Meanwhile, the active manager Vaneck provides that the proposed reserve could compensate up to 21 billions of dollars in national debt by 2049.
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