Arthur Hayes: I Don't Think Trump Will Embark on Building a Bitcoin Reserve

Golden Finance reports that BitMex co-founder and former CEO Arthur Hayes said, “I don't think Trump is going to embark on building a bitcoin reserve. At the end of the day, I don't see the point of borrowing money to buy bitcoin on any of Trump's platforms.” He said, “You had so much borrowing power before you destroyed the bond market. Would you borrow money to buy bitcoin? Would you borrow money to provide health care for seniors who voted for you, or to build more bombs so the defense lobby likes you? You can borrow money for a lot of different things. I just don't think he would spend it on bitcoin. While Bitcoin proponents think Bitcoin is important, there are a lot of other stakeholders who want borrowed money in their pockets.” Regarding the implementation of a bitcoin reserve, Hayes said “I hope I'm wrong.” However, he noted that there is limited time before the midterm elections, which could limit the ability to implement major policy changes, and that there are many other things to allocate time and budget for.