Arthur Hayes explained how Bitcoin & other AI stock assets will secure huge benefits because of the current US economic situation.
Arthur Hayes is a 38 years old American entrepreneur and a co-founder and former CEO of cryptocurrency exchange BitMEX. In 2022, Hayes faced charges over the United States Bank Secrecy Act violations and faced six months of home detention, two years of probation, and a $10 million fine.
On 2 June 2023, Arthur Hayes published a new article on Substack to share his opinion on the current situation of the US economy.
Hayes noted that America is under a very big debt pressure and the Fed will print huge amounts of money to pay debt and in that situation, inflation will surge.
The BitMex co-founder noted that all the wealthy asset holders who received interest payments from the Fed will likely buy risk assets with the proceeds.
Hayes believes that the situation is going to give a huge favour to the Bitcoin, Gold, & AI stock assets.
“Gold, Bitcoin, AI tech stocks, etc. will all be beneficiaries of this ‘wealth’ that is printed by the government and handed out as interest,” Hayes said.
Furthermore, Hayes predicted that the bull run for Bitcoin will start by the end of 3rd quarter or the beginning of the fourth quarter of this year.
Hayes said that he doesn’t think that Bitcoin will again touch the $20k trade price, as per the current situation.
Earlier this, several crypto experts shared their opinion over the last couple of months and noted that the Fed rate hike & new money supply is going to bring a great opportunity for the high-risk assets.
Read also: Crypto analyst says betting on $1 XRP doesn’t seem unreasonable
