The announcement by President Donald Trump regarding the establishment of a Strategic Reserve Fund backed by cryptocurrencies—including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA)—has sent shockwaves through the global crypto community. If realized, this would mark a historic shift in the U.S. government's stance on digital assets. However, not everyone is convinced, especially seasoned investors like Arthur Hayes, the founder and former CEO of the BitMEX derivatives exchange.
Arthur Hayes’ Doubts About Trump's Plan
Following the news, Arthur Hayes expressed skepticism on his personal platform:
"Nothing new here. Just words. Let me know when Congress approves more borrowing or revalues gold. Without that, they have no money to buy Bitcoin or altcoins."
According to Hayes, the idea of the U.S. government acquiring a large amount of Bitcoin and other cryptocurrencies for a national reserve is far from straightforward. Such a move would require clear financial resources, which could only be achieved if Congress approves new funding or implements special financial measures like gold revaluation. If no concrete actions follow Trump's announcement, Hayes believes this "crypto reserve fund" might be more of a political stunt than an actual policy shift.
The Crypto Market Awaits Real Action
Despite his doubts, Hayes remains bullish on Bitcoin and the broader crypto market in the long term. However, he emphasized that he is not making additional investments at this moment:
"I’m still very bullish, but I’m not buying more tokens right now."
Trump’s statement comes at a time when the market is anticipating significant progress in crypto regulations and policies within the U.S. If this plan materializes, it could strengthen the U.S.'s leadership in the global digital asset space and pave the way for greater mainstream adoption of cryptocurrencies.
March 7 – A Key Date for Crypto Markets
The next major event on the calendar is Trump’s White House Crypto Summit on March 7, which will provide insights into how serious his administration is about this initiative. Investors will also be watching for potential crypto-friendly policies that could be introduced.
Additionally, March 7 will see the release of the U.S. unemployment rate for February and a key speech from Federal Reserve Chair Jerome Powell. These events could have significant market implications, making it crucial for investors to stay updated on upcoming developments.