In a new statement that sparked widespread controversy among cryptocurrency circles, Arthur Hayes said that sovereign states will never buy $BTC for savings, confirming that they will remain committed to gold because it is the original asset they understand and trust.
Hayes explained, in remarks relayed by Bitcoin Magazine, that the reason behind this stance is not purely economic, but rather related to the way governments deal with the technology itself, noting that they do not know how to handle computers.
The statement clearly puts a point of disagreement against the prevailing narrative that states may adopt $BTC one day as a reserve asset, especially as talk about strategic reserves of digital currencies increases.
But Hayes believes gold remains the first choice for states, because it is familiar to them and has been well-known in their financial systems for decades, while digital currencies remain outside their interest at the level of sovereign savings.
It is noteworthy that the statement does not include any figures or price predictions, but limits itself to a general view of state behavior, making it more of a philosophical position than a market forecast.
The question remains open: Will this conviction change if a major country actually adopts $BTC , or will gold remain the undisputed ruler of reserves?
Press $BTC to trade
$BTC
Hayes explained, in remarks relayed by Bitcoin Magazine, that the reason behind this stance is not purely economic, but rather related to the way governments deal with the technology itself, noting that they do not know how to handle computers.
The statement clearly puts a point of disagreement against the prevailing narrative that states may adopt $BTC one day as a reserve asset, especially as talk about strategic reserves of digital currencies increases.
But Hayes believes gold remains the first choice for states, because it is familiar to them and has been well-known in their financial systems for decades, while digital currencies remain outside their interest at the level of sovereign savings.
It is noteworthy that the statement does not include any figures or price predictions, but limits itself to a general view of state behavior, making it more of a philosophical position than a market forecast.
The question remains open: Will this conviction change if a major country actually adopts $BTC , or will gold remain the undisputed ruler of reserves?
Press $BTC to trade
$BTC
