Arthur Hayes to Crypto Dreamers—Time to Wake Up
BitMEX co-founder Arthur Hayes doesn’t hold back in The Genie, where he dissects the crypto industry’s push for a strategic Bitcoin reserve and the “Frankenstein” crypto regulations forming in the U.S.
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For Hayes, this kind of policy is just a band-aid solution, offering no real fix for deep-rooted economic and crypto market challenges. Worse, it could hand over control of Bitcoin’s fate to politicians.
Why a Government-Owned Bitcoin Reserve Is a Dangerous Bet
Hayes sees a big red flag—if the government stockpiles Bitcoin, a future administration could just dump it onto the market, crushing investors. Instead of Bitcoin’s value being driven by real adoption and demand, it could become a pawn in political power plays.
Regulation or Restriction? The Future of Crypto at Stake
Hayes warns that the latest crypto regulations—what he dubs a “Frankenstein framework”—are crafted to serve the biggest financial players while sidelining smaller, decentralized projects.
The cost of compliance will skyrocket, making it nearly impossible for startups to thrive. Instead of fostering innovation, these laws risk handing the crypto industry over to corporate giants, shutting out the very decentralization it was built to achieve.
Forget Political Miracles—Hayes Has a Different Plan
Arthur Hayes believes it’s time for crypto believers to drop the fantasy of a government-led Bitcoin revolution and start thinking long-term.
Instead of chasing short-lived political wins, Hayes argues that America’s “genie” (his nickname for Donald Trump, The Orange Man) should grant a wish that sticks—one that future administrations can’t undo.
His solution? The U.S. Treasury should start buying Bitcoin at premium prices, issuing 100-year bonds in return. This would, in theory, gradually deflate traditional debt while positioning Bitcoin as a neutral global reserve asset.
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