- According to ex-Bitmex boss Arthur Hayes, the United States will hardly buy Bitcoin due to increasing debts and the ever poorer public perception.
- He assumes that the Bitcoin market share will reach about 70% before the old coins cut off again above average.
Arthur Hayes has expressed doubts about the prospects of the United States to acquire a strategic bitcoin reserve through direct purchases. In a recent recent Interview the Bitmex founder said that the United States would have to deal with rising debts and that they were unable to print money for Bitcoin afterwards.
Hayes also said that the only Bitcoin that will hold the United States that are coins they are currently confiscated together together 198,012 BTC worth over $ 18 billion. He rejected speculation about a broader reserve and said that no decent civil servant would publicly stand up for a policy that the government was the cliché of a clique of a clique of “Bitcoin Brothers”.
President Donald Trump has already signed a implementation regulations to create a reserve for digital assets, but Hayes believes that the announcement will not do anything. Hayes warned that the impatience of the investors could quickly turn into frustration in view of the intermediate elections only one year away and send Bitcoin and other “Trump-Trades” down.
Altcoin season could follow the pattern of 2021
Despite all the skepticism in the crypto sector, Haye’s view of market cycles is consistent. Before the Altcoin rally in 2021, he expects the Bitcoin market share to reach 70% again. And he said:
“Bull markets return and people turn.”
The Bitcoin market share is currently 64.89 %, while it was 57.9 % in January. But nI have all experts agree with Hayes Thesis. Analyst Benjamin Cowen believes that the increase in Bitcoin dominance will have a hard time crossing 60%. According to Ki Young Ju from Cryptoquant, the old season no longer needs a Bitcoin rotation and that Fiat and StableCoin trading pairs are the new sales bringers.
Nevertheless, Hayes adheres to his view. He said that old coins will develop better as soon as Bitcoin has reached its maximum – but it depends on which assets you are aiming at.
Global forces can drive BTC to $ 1 million
However, Hayes is optimistic about Bitcoin’s long -term prospects. He predicts that the asset could be worth $ 1 million by 2028. He says that this could be a key factor for this development because it represents macroeconomic changes such as the devaluation of the US dollar under Trump’s business plan.
Global crypto moment could also be enormous, as Hayes says. If Chinese investors have access to Hong Kong ETFs, their demand could drive prices to a much higher level. He even speculated that some European governments could accumulate digital currencies in silence in order to cushion inflation.
The course has risen to over $ 97,000, a level that has not been reached since February after Bitcoin had started its current rally. The increase also led to the Bitcoin dominance reached the highest level since January 2021, as can be seen from the data from Tradingview. The Crypto Fear and Greed Index is currently 55, which indicates moderate optimism among investors. Hayes is skeptical about US politics in the near future, but is confident that the global race for Bitcoin will begin and the United States could be forced to participate.
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