Arthur Hayes criticizes the US bitcoin reserve plans and encryption regulation efforts

Arthur Hayes, one of the Bitmex founders, rejected the idea of ​​the American Bitcoin reserves, describing it as an impractical political concept.

In his article on February 5, Hayes argued that government storage for cryptocurrency will serve political interests instead of financial stability.

Bitcoin Reserve will be a political tool

“What can be purchased can be sold,” he is booksWarning that politicians are gaining assets to achieve short -term gains. While some see Bitcoin as “the most difficult” form of money, it indicated that the United States government has no basic economic use for that. Instead, he suggested that political leaders take advantage of price fluctuations to serve their business schedules instead of embracing ideological foundations.

Hayes criticized the Senator Sentea Lomes’s suggestion to obtain the Bitcoin Strategic Reserve (BSR), arguing that if President Trump allows the purchase of a million BTC, the prices will rise temporarily but stalling once the purchase stops.

He also expected that if the head of state fails to address the major voters’ concerns such as inflation, foreign conflicts and corruption, Democrats can restore power in 2026. If they do so, they are likely to look at Bitcoin reserves as a suitable source of money and sell them as ahead to finance new policies. According to him, this would create uncertainty about the government -controlled BTC future, undermining confidence in the market.

The former Executive Executive Director also asked whether the administration would deal with Bitcoin beyond keeping it as a negative asset. “Do they run the contract? Care for developers? Or only treat it like the cup?” He asked.

Hayes also accused the Trump team of using bitcoin fluctuations to secure political gains, indicating that the reserve can become a tool for collecting donations for campaigns.

Discussions on the Bitcoin Federal Reserve gained momentum after the president announced a sovereign wealth fund, with Lomes’s hint that it could be used to buy bitcoin. Polymarket’s predictive platform currently Places US Bitcoin stocks before the end of 2025 by 46 %.

Organizational complexity

Hayes also talked about the regulation of encryption, which led to the condemnation of what he called “Brankenstein Crypto Bill”. He said that any new framework is likely to be excessively complicated and excessive, and it is preferable only the largest players in the industry who can withstand high compliance costs.

He explained that investors who have large shares in the central financial companies are the most vulnerable to payment for the organization, because they have the impact to form a policy in their favor. On the other hand, developers in decentralized financing lack the resources needed to pressure for their interests.

Crypto investor has warned that organizational compliance will only be affordable for deep -pocket companies such as Coinbase and Blackrock, which enhances monopolies instead of creating competition. Entrepreneurs also warned against moving to the United States for organizational clarity, on the pretext that the interests of regular companies will suffocate innovation and prevent young players from success.