- Arthur Hayes warns that the Bitcoin reserve in the USA could be exploited by politicians for short-term financial and political profits.
- He says the crypto regulation directly from the White House benefits the large, centralized companies and small innovative companies fell by the wayside.
The United States’s plan to set up a strategic Bitcoin reserve seems to cause more questions than answers. Arthur Hayes, co -founder of Bitmex, believes that this step Not just a financial strategy isbut has the potential to become a dangerous political tool.
In his opinion, this decision not only serves to strengthen the economy, but could also be a means for politicians to play a play game.
Strategic facility or gold donkey for politicians?
Hayes recalled that politicians, regardless of the party or the political system, are always looking for easily accessible sources of money. He wrote:
“For a new legislative or presidency controlled by the Democrats, it is the first direct, easily accessible money sources that you can spend on your supporters. It is the first directive of every politician, regardless of the political system practiced. There is a million Bitcoin that are just waiting to be sold; All you need is a signature on a piece of paper. “
If the Bitcoin is really used as a state reserve, his fate only waits for the signature of the rulers so that it can be sold for their political interests. In other words, this asset can easily turn from a long -term investment into a state emergency fund that is available for payment at any time.
Government commitment for Bitcoin: reality or illusion?
It may sound ideal when the US government begins Bitcoin to take more seriously. However, Hayes doubts that they want to contribute seriously to the Bitcoin ecosystem themselves. Hayes explained:
“Will you donate to support the Bitcoin nuclei developers? Will they operate nodes? Maybe … but the way in which the BSR is talking about seems to me to be a kind of “set-it-and-for-forget-IT” practice. Trump and the Republican Party can look at an increasing Bitcoin price and say that the mission is fulfilled. ”
This statement reflects skepticism about how the Bitcoin reserve will be managed. Will the government really invest in the development of Bitcoin technology? Or is this just a policy that aims at short -term political profits?
Anti -innovation regulations
Hayes not only provided the purpose of Bitcoin-Reserve In question, but also pointed out the possible regulations that will follow when the government really gets into the crypto industry. Unfortunately, he believes that the regulations that will be introduced later benefit rather large companies than to promote innovation in this sector. He added:
“The crypto regulatory wishes, which are probably fulfilled, if at all, will be in the form of excessive complicated, prescriptive rules that can only afford large and rich centralized companies.”
In short, excessive rigid regulations will only make small companies and independent innovators more difficult to survive, while large companies with plenty of resources can still adapt. This is a pattern that can often be observed in other industries: regulations that are well meant can actually create obstacles to the development of new actors.
The future of Bitcoin in the hands of the politicians
In view of all of these options, many are wondering whether the US-Bitcoin-Reserve actually bring advantages to the economy or only become a political instrument. If Hayes is right, Bitcoin could turn into a traded asset such as government bonds – something that can be sold at any time depending on the budget requirement.
On the other hand, this idea also shows how Bitcoin is increasingly accepted in the global financial system. For its supporters, the acceptance of a country as large as the United States is proof that the digital asset will play a greater role in the future. The question now is: is this in the public interest or only in the interest of some less powerful elites?
