Arthur Hayes: Bitcoin can become a destructive political tool

According to Arthur Hais, the creation of a sovereign fund in bitcoins is not the best idea. The specialist believes that this tool can become a strong political tool. The fact is that this reserve will simply become another pool of an asset that can be bought and sold. Heis also emphasized that it will be possible to implement the accumulated coins “only by signature on paper.” And this turns bitcoin not into a decentralized asset, but a banal political weapon.

But Heis admitted that the creation of a strategic reserve in BTC will lead to significant short -term growth. But any purchases of the main digital coin will not be aimed at receiving financial benefits, but at the implementation of political goals. According to Hais, the creation of the appropriate reserve will not allow the administration of Donald Trump to slow down inflation. However, not all experts share the point of view of the founder of the BitMex exchange.

For example, Vaneck analysts believe that the formation of a bitcoin reserve will reduce the US public debt by more than 30% until 2049. In turn, the head of Microstrategy Michael Sailor believes that this initiative will still allow us to strengthen the position of the dollar in the international arena.

The speculation regarding this topic intensified after the ratification of Donald Trump on the formation of a sovereign welfare fund. In turn, Senator Cynthia Lammis said that it will be used to accumulate bitcoins.

It is also worth noting that according to Polymarket, the probability of creating a strategic reserve in BTC this year is estimated at no more than 46%. At the end of last year, Arthur Hais opposed the creation of Sports Bitcoin-ETF. He noted that this tool would only harm the main digital coin.

Author

Andrey Alexandrov