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BitMEX co-founder and former CEO Arthur Hayes has expressed skepticism over US President Donald Trump’s recent announcement of a strategic cryptocurrency reserve, describing it as “nothing new” and questioning its viability.
Arthur Hayes Slams Trump's Crypto Reserve Plan as 'Just Talk'
“Nothing new here just words,” Hayes wrote on X in response to Trump’s post. “Let me know when they get congressional approval to borrow money or push the price of gold even higher. Without that, they don’t have the money to buy Bitcoin and altcoins,” he added.
Market Optimism vs. Skepticism
Trump’s statement suggesting that Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA) could be included in a U.S. Crypto Strategic Reserve sparked a market rally, with Bitcoin rising over 8% and altcoins posting double-digit gains.
However, Hayes remains cautious, reaffirming his long-term bullish outlook while stating that he will not be increasing his crypto holdings at this time.
“I’m still bullish,” Hayes added, “but I’m not going to buy any more tokens at this point.”
Meanwhile, Binance founder Changpeng Zhao (CZ) took a more optimistic stance, stating that more valuable crypto assets could be added over time and urged the community to remain positive.
*This is not investment advice.