Arthur Hayes Says Bitcoin (BTC) and Crypto Can Rise With or Without the Fed’s Money Printer

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Con­tro­ver­sial Bit­MEX founder and cryp­to vet­er­an Arthur Hayes thinks Bit­coin (BTC) can rise in price regard­less of whether the U.S. Fed­er­al Reserve decides to con­tin­ue rais­ing rates or not.

Hayes says in a recent newslet­ter that it will become more clear over time that sit­ting in bonds is fool­ish and “cap­i­tal at the mar­gin” will shift to hard finan­cial assets.

“Cer­tain assets such as Bit­coin, big tech/AI (arti­fi­cial intel­li­gence) stocks, pro­duc­tive farm­land, etc. will con­tin­ue ris­ing and con­found the major­i­ty of finan­cial ana­lyst mup­pets. It won’t make sense to them that Bit­coin is hold­ing firm because they look at manip­u­lat­ed mar­kets con­trolled by Fed asset pur­chas­es, such as yields on TIPS (US Trea­sury Infla­tion-Pro­tect­ed Secu­ri­ties) – which are (seem­ing­ly) pos­i­tive and rising.”

Hayes says riski­er assets like BTC are still attrac­tive options for investors because the US gov­ern­ment has “con­tin­ued its spend­ing bonan­za,” dri­ving down the yield on gov­ern­ment bonds.

“It gives me com­fort because, while I still believe the base case sce­nario is that the Fed is forced to cut rates close to zero and restart the [quan­ti­ta­tive eas­ing] mon­ey print­er, even if I’m wrong, I’m con­fi­dent that cryp­to can rise quite sub­stan­tial­ly regardless.”

Hayes has had a con­tro­ver­sial career. Last year, the for­mer Bit­MEX CEO and fel­low exec­u­tive Ben­jamin Delo both pled guilty to vio­lat­ing the Bank Secre­cy Act by will­ful­ly fail­ing to estab­lish anti-mon­ey laun­der­ing pro­to­cols at their exchange. A judge lat­er sen­tenced Hayes to six months of home deten­tion and two years of pro­ba­tion, and the for­mer CEO also agreed to pay a fine of $10 million.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Gen­er­at­ed Image: Midjourney

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