#Hayes Questions Trump's Bitcoin Reserves#

Arthur Hayes, Chief Investment Officer of cryptocurrency venture capital firm Maelstrom, is skeptical about whether the Trump administration will establish a strategic bitcoin reserve. Hayes believes that Trump would not embark on building a bitcoin reserve, as he is unsure what benefit acquiring bitcoin would have for any of Trump’s political platforms. He points out that while Trump has seen the potential benefits of cryptocurrency, time is limited before the midterm elections, and there are numerous other things that need to be allocated time and money for, such as healthcare and defense spending. Hayes believes that Trump is more likely to spend borrowed money on other stakeholders, rather than on purchasing bitcoin. He argues that although bitcoin enthusiasts believe it to be important, there are numerous other stakeholders vying for government funds. Hayes’ views are based on his deep insight into the macroeconomy, especially his pessimistic view of the government’s ways of eroding the wealth of the common people. He believes that the government is more likely to allocate funds to other priorities than to purchasing bitcoin.