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Arthur Hayes Criticizes U.S. Bitcoin Reserve Plan as Political Tool
In a recent statement, Arthur Hayes, co-founder of BitMEX, has expressed his disapproval and skepticism towards the United States’ plan to establish a strategic Bitcoin reserve. According to him, this initiative is not only a financial strategy but also has the potential to become a dangerous political tool in the hands of politicians.
Hayes emphasized that politicians from any party or political system are always on the lookout for easily accessible funds to spend on their supporters. In his words, “To an incoming Democrat-controlled legislature or presidency, this would be a goldmine.” He suggested that if this reserve is used as a means to finance government programs, it could lead to Bitcoin’s value being compromised and eventually traded like government bonds.
This notion raises the question of whether the U.S. Bitcoin reserve would indeed benefit the economy or simply become an instrument for powerful elites.
