美国总统唐纳德·特朗普（Donald Trump）刚刚在美国战略储备中增加了比特币，但亚瑟·海斯（Arthur Hayes）并没有购买炒作

美国总统唐纳德·特朗普（Donald Trump）只是在美国战略储备中增加了比特币，但亚瑟·海斯（Arthur Hayes）并没有购买炒作。他认为这是政治姿态

US President Donald Trump just added Bitcoin to the US Strategic Reserve, but Arthur Hayes isn’t buying the hype. In an exclusive interview with Cryptopolitan, the CIO of Maelstrom and co-founder of BitMEX, sees it as political posturing and a way to woo crypto voters ahead of the 2026 midterms while doing the bare minimum to keep inflation under control.

美国总统唐纳德·特朗普（Donald Trump）只是在美国战略储备中增加了比特币，但亚瑟·海斯（Arthur Hayes）并没有购买炒作。在对密码大都会的独家采访中，梅尔斯特罗姆（Maelstrom）和比特梅克斯（Bitmex）的联合创始人的CIO将其视为政治姿态，也是一种在2026年中期之前吸引加密货币选民的方式，同时又采取了最低限度的最低限度来控制通货膨胀。

With US-China tensions simmering and aggressive tariffs making a comeback, could Bitcoin become a weapon in the new Cold War? We asked Hayes who also thinks China might already be ahead in the BTC accumulation race.

随着我们 - 中国的紧张局势耗尽和积极的关税，卷土重来，比特币会成为新冷战的武器吗？我们问海耶斯（Hayes）也认为中国可能已经在BTC积累竞赛中取得了进步。

Bitcoin becoming a mainstream asset

比特币成为主流资产

With Bitcoin ETFs, institutional adoption, and political backing, many are celebrating what seems like the asset’s golden era. However, Hayes sees the flip side, warning that this mainstreaming could strip BTC of its rebel DNA and turn it into just another Wall Street asset.

凭借比特币ETF，机构采用和政治支持，许多人正在庆祝资产的黄金时代。但是，海耶斯看到了另一面，警告说，这种主流化可能会剥夺其叛军DNA的BTC，并将其变成另一个华尔街资产。

As we discussed in our interview, Arthur highlighted that “Bitcoin is a bearer asset with a finite supply that cannot be altered by government or central bank diktat. It is the complete opposite of any TradFi asset which, even if it is in finite supply like equities, relies on the legal fiction woven by governments and enforced by men with guns.”

正如我们在访谈中所讨论的那样，亚瑟强调说：“比特币是一个有限供应的持有资产，政府或中央银行Diktat无法改变。它与任何贸易费资产完全相反，即使它像有限的公平供应一样，它依赖于政府编织的法律小说，并由枪支驾驶的枪支人士进行。”

We asked him if big banks would kill off stablecoin issuers like Tether or if regulators could shut down all stablecoins, bank-issued or not.

我们问他，大银行是否会杀死像Tether这样的Stablecoin发行人，或者监管机构是否可以关闭银行发行的所有Stablecoins。

He stood firm on Tether’s survival and highlighted that Tether is too big to kill because a disorderly unwind of their hundreds of billions of dollars worth of US Treasury securities would roil the market.

他坚定地坚持了Tether的生存，并强调系塞特太大而无法杀死，因为他们对价值数千亿美元的美国财政证券的无序不断地放松了市场。

“Tether is mostly used by non-Americans, US bank will issue a stablecoin in its first instance to service US persons. Therefore, Tether’s dominance will not be challenged,”

“束缚大多是非美国人使用的，美国银行将首先发出稳定的人来为我们的人提供服务。因此，Tether的统治地位不会受到挑战，”

said Hayes.

海斯说。

Is Trump’s Bitcoin Reserve a smart move or a gimmick?

特朗普的比特币保留是明智的举动还是gi头？

Earlier this year, we learned that Bitcoin and other top altcoins got an official call to be included in a government reserve. We asked Arthur whether this is the first step toward a Bitcoin-backed financial system or just political theater.

今年早些时候，我们了解到比特币和其他顶级替代币接到了正式的电话，将其包括在政府储备中。我们问亚瑟是迈向比特币支持的金融体系还是政治剧院的第一步。

He pointed out that “Trump and the Republican party have a tough mid-term election coming up in 2026. Trump needs to keep crypto investors on side so they show up with campaign donations and at the ballot box.”

他指出：“特朗普和共和党在2026年举行了艰难的中期选举。特朗普需要将加密货币投资者留在一边，以便他们出现在竞选捐赠和投票箱中。”

He added “But on the other hand, Trump can’t have inflation running wild, so wanton money printing, which would send Bitcoin quickly to new all-time highs, cannot be pursued because inflation harms all Americans. Trump will do the minimum necessary to gain the support of crypto investors.”

他补充说：“但另一方面，特朗普不能使通货膨胀狂奔，因此，肆意的货币印刷将迅速将比特币送到新的历史最高点，因为通货膨胀会损害所有美国人的通货膨胀。特朗普将竭尽所需的最低限度来获得加密投资者的支持。”

According to his calculations, local governments in China have been mining Bitcoin for years and might already be ahead in accumulating reserves. As he explained:

根据他的计算，中国的地方政府多年来一直在开采比特币，并且在积累储备方面可能已经领先。正如他解释的那样：

“The roughly 200,000 Bitcoin the US government seized or stole from individuals is what is going into the reserve. It is very possible that the Chinese government holds more Bitcoin than that.”

“美国政府从个人那里抓住或偷走的比特币是预备役的目标。

Bitcoin as a trade war weapon?

比特币是贸易战武器？

With US-China tensions simmering and the return of aggressive tariffs, Bitcoin could become a strategic tool for countries to bypass financial sanctions and tariffs. We asked Arthur if we could see governments weaponizing BTC in global trade.

随着美国 - 中国的紧张局势耗尽和积极的关税返回，比特币可能成为绕过金融制裁和关税的国家的战略工具。我们问亚瑟（Arthur）是否可以看到政府在全球贸易中为BTC武器化。

According to him, Bitcoin is becoming a key tool for economic resistance.

据他说，比特币正在成为经济抵抗的关键工具。

“Bitcoin will become the only way that balkanized economic blocs can be financially connected. In the near future, the major economic blocs will begin blocking the ability for capital to flow freely outside of their borders. At that point, Bitcoin, given that anyone with an internet connection can use it, will be the only way that citizens from different blocs can financially interact with each other,” he added.

“比特币将成为可以在财务上建立联系的唯一途径。在不久的将来，主要的经济集团将开始阻止资本在其边界之外自由流动的能力。鉴于那时，比特币，互联网连接的任何人都可以使用它，这将是来自不同布洛克斯市的唯一与对方的公民相互作用，”他补充说。”

If global supply chains get disrupted again due to tariffs and economic nationalism, could that push businesses and individuals toward Bitcoin as a borderless asset?

如果由于关税和经济民族主义而再次破坏了全球供应连锁店，那是否可以将企业和个人作为无边界资产朝着比特币转向比特币？

Maelstrom CIO suggested that “the balkanization of trade and finance is inflationary as every country must replicate production. The increase in productive capacity cannot be funded out of savings alone; therefore, fiat money printing will be used to finance this build out.”

Maelstrom CIO建议：“贸易和金融的巴尔干化是通货膨胀的，因为每个国家都必须复制生产。生产能力的提高不能仅仅由储蓄来资助；因此，FIAT货币印刷将用于资助这一资金。”

“Bitcoin benefits as the amount of global fiat credit expands. That is how Bitcoin benefits in a global trade war,” he further added.

他进一步补充说：“随着全球菲亚特信贷数量不断扩大，比特币受益。这就是比特币在全球贸易战中受益的方式。”

We’ve seen El Salvador going big on BTC, but they’re small. Which major nation do you think will be the first to shift a major part of their reserves into Bitcoin?

我们已经看到El Salvador在BTC上走得很大，但它们很小。您认为哪个主要国家将是第一个将其大部分储量转移到比特币的人？

Despite El Salvador’s Bitcoin experiment, Hayes doubts any major economy will make Bitcoin its primary reserve asset. “It doesn’t make any sense for a government to ditch the privilege of issuing its own currency by fiat.”

尽管萨尔瓦多进行了比特币实验，海耶斯怀疑任何主要经济体都会使比特币成为其主要储备金。 “对于政府来说，放弃通过菲亚特发行自己的货币的特权没有任何意义。”

Are meme coins the real central bank killers?

Meme硬币是真正的中央银行杀手吗？

Forget BTC and ETH, meme coins are moving faster and generating more liquidity than some national currencies. In the meantime, we’ve also seen more scams and hacks in the shadow of the meme coins explosion.

忘记BTC和ETH，模因硬币的移动速度比某些国家货币更快，并且产生更多的流动性。同时，在模因硬币爆炸的阴影中，我们还看到了更多的骗局和黑客。

Would it be possible to see a future where such coins disrupt fiat

可以看到这样的硬币破坏菲亚特的未来