BitMEX Co-founder Arthur Hayes Critiques Trump’s Crypto Reserve Plan

Arthur Hayes, co-founder and former CEO of BitMEX, has expressed skepticism regarding US President Donald Trump’s recent announcement of a strategic cryptocurrency reserve, dismissing it as “nothing new” and questions its viability.

Hayes Critiques Trump’s Proposal

“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 suggestion that Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA) could be included in a U.S. Crypto Strategic Reserve prompted a market rally, with Bitcoin rising over 8% and altcoins recording double-digit gains.

However, Hayes remains cautious, reaffirming his long-term bullish stance while stating that he will not be increasing his cryptocurrency holdings at this time.

“I’m still bullish,” Hayes added, “but I’m not going to buy any more tokens at this point.”

In contrast, Binance founder Changpeng Zhao (CZ) took a more optimistic view, suggesting that more valuable crypto assets could be added over time and encouraging the community to keep a positive outlook.

This is not investment advice.