Bitcoin bros at 'the club' may stop US gov’t from buying BTC — Arthur Hayes
Arthur Hayes, co-founder of BitMEX, states the U.S. is unlikely to increase its Bitcoin reserves beyond the 198,012 Bitcoin already seized due to high debt levels and negative perceptions of Bitcoin enthusiasts. He doubts any politician would announce plans to print money for Bitcoin purchases. The U.S. Bitcoin reserve, valued over $18 billion, primarily consists of assets seized from criminal cases. Crypto leaders warn that U.S. government purchases could trigger competition among countries for Bitcoin ownership. Hayes believes Bitcoin dominance will revert to about 70%, similar to patterns observed in 2021, despite skepticism from some analysts. Currently, Bitcoin dominance stands at 64.78%, having increased since January. Some analysts argue that the traditional signals for altcoin seasons are outdated, with altcoin trading now more common against stablecoins and fiat currencies.
