Arthur Hayes expects Bitcoin rally amid Middle East escalation
Arthur Hayes, former CEO of cryptocurrency exchange BitMEX, believes that Bitcoin is already hinting at explosive growth in the future. As the United States increasingly invests in two new wars, the risk of escalation around the world grows, Hayes said in the blog. The US Federal Reserve faces ongoing inflation but has paused interest rate hikes, with a so-called bearish strengthening looming for the economy. “The structural hedging needs of banks and the borrowing needs of the US war machine reflexively feed on one another in the US Treasury market.” Arthur Hayes, former CEO of BitMEX Hayes believes that if long-term US Treasuries do not provide security to investors, then their money will seek alternatives. Gold and, most importantly, Bitcoin (BTC) will begin to rise due to real fears of global inflation during the war, he added. “Once everyone realises the game we are playing, the Bitcoin and crypto bull market will be in full swing.” Arthur Hayes, f...