TechFlow news, on February 6, Arthur Hayes said in his latest blog post that the Bitcoin Strategic Reserve policy has fundamental problems because government purchases and sales of assets are primarily driven by political rather than financial interests. He also expressed concern over upcoming crypto legislation, arguing that complex regulatory environments may only be navigable by large centralized firms.
Hayes expects Bitcoin prices to retrace to the $70,000–$75,000 range unless specific actions are taken, such as quantitative easing by institutions like the Federal Reserve, U.S. Treasury, or Japan, or the introduction of concrete legislation supporting permissionless cryptocurrency innovation.
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