Arthur Hayes: Bitcoin reserves could ultimately become a "powerful political weapon"

In a blog post on February 6, Arthur Hayes stated, "Overall, many misguided cryptocurrency enthusiasts hope that the U.S. government will print dollars and buy Bitcoin as part of national reserves... I believe these people are asking for the wrong thing."

Hayes believes that potential Bitcoin reserves would simply be another tradable financial asset. Establishing national Bitcoin or cryptocurrency reserves would turn any cryptocurrencies held by the government into a "political weapon."