Arthur Hayes doubts Trump’s crypto reserve plan, saying it lacks congressional approval for borrowing or revaluing gold.
Hayes remains bullish on crypto but warns of upcoming market challenges before a potential recovery.
President Donald Trump’s proposal to establish a US Crypto Reserve has sparked debate in the cryptocurrency industry. Officially announcing the strategy, as per the CNF report, Trump included Bitcoin, Ethereum, XRP, Solana, and Cardano. Mixed responses have come from Arthur Hayes, co-founder of BitMEX, who answered with skepticism.
“Just Words,” Arthur Hayes Says
Trump’s declaration did not instantly grab Arthur Hayes. He took the remark as only rhetoric devoid of any specific action.
For him, the US government lacks the means to purchase Bitcoin and altcoins in great numbers without congressional authority to borrow money or raise the price of gold. Stated differently, Trump’s promise resides still in the theoretical domain.
Nothing new here. Just wo
