Arthur Hayes: US Bitcoin Buying Spree Unlikely, Altcoin Season Still Inevitable

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Arthur Hayes, the outspoken co-founder of BitMEX, is not buying into the idea that the United States will suddenly become a major Bitcoin accumulator. In a candid interview on May 1, Hayes made it clear that despite holding nearly 200,000 BTC in seized assets, the U.S. is unlikely to formally grow its crypto reserves—especially by purchasing more Bitcoin outright.“The U.S. is a deficit country,” Hayes said, highlighting that with its ballooning national debt, America isn’t in a position to start stacking sats just for strategy’s sake. Most of the Bitcoin it currently owns—roughly $18 billion worth—was confiscated through law enforcement actions, including high-profile cases like Silk Road and the Bitfinex hack. But when it comes to actively buying Bitcoin with printed dollars, Hayes doesn’t see that being politically feasible. “Imagine a sitting president justifying a spending bill so the government can compete with Bitcoin bros,” he joked. “It’s not a great look.”Despite President Trump’s executive order in March to establish a Bitcoin strategic reserve, critics and crypto veterans alike remain skeptical that the policy will translate into actual market purchases.If the U.S. Buys Bitcoin, Expect a Global ScrambleWhile Hayes is dismissive of U.S. buying ambitions, others in the industry believe the very act of the U.S. government entering the Bitcoin market could trigger a ripple effect across the globe. Sergej Kunz, co-founder of 1inch, suggested that even smaller nations would start hoarding Bitcoin, creating competition that could push the asset into geopolitical territory. “Countries will soon be fighting over Bitcoin,” Kunz warned. “And the U.S. will lead the charge.”This sentiment plays into a broader narrative of Bitcoin as a sovereign asset, not just a speculative investment—one that could eventually find a place on central bank balance sheets if global trust in fiat systems continues to erode.Hayes Predicts Classic Altcoin SurgeBeyond geopolitics, Hayes also weighed in on market dynamics. He remains convinced that the age-old rotation from Bitcoin to altcoins is still very much intact. “Bitcoin dominance is going to rise back toward 70%, just like before the 2021 altseason,” he predicted, pushing back against analysts who say the cycle has changed.While others like Benjamin Cowen and Ki Young Ju argue that altcoin season won’t be driven by Bitcoin anymore, Hayes remains bullish on history repeating itself: “Once Bitcoin hits new highs, people start rotating. That playbook hasn’t changed.”Source link