Here’s Why Bitcoin (BTC) Will Not Stop at $100K: Arthur Hayes (Live From Token2049)

Here’s Why Bitcoin (BTC) Will Not Stop at $100K: Arthur Hayes (Live From Token2049)

While talking about the monetary policies undertaken by the US government as well as other economic giants like China and Japan, BitMEX’s co-founder, Arthur Hayes, highlighted Bitcoin as the only suitable solution in times of expanding central banking balance sheets.

He made these comments during the current Token2049 conference in Dubai.

Hayes began by asserting that the real yields will continue to be negative, which is something the US Fed and Treasury are actively managing to maintain. This is because they are allowed to borrow funds at lower rates.

Should that trend continue, which has been the case for the past few decades, Bitcoin and other cryptocurrencies will keep increasing in value, said the former BitMEX exec. However, he also warned about the opposite but said there’s very little chance the real yields will go positive anytime soon.

He believes that the GDP numbers claimed by the US and other governments are artificial and are announced to the public to keep them at bay.

The solution for this fiat monetary policy lies outside of it, he noted. Hayes highlighted gold as the historical choice, given that it has existed for thousands of years. He said the yellow metal has served its purpose for a long time but it has numerous drawbacks that are bypassed by owning an asset that has all of its merits, without any of the potential negative sides – Bitcoin.

As seen in his presentation, gold is hard to carry, especially in large amounts, while BTC is digital. History has seen numerous examples where the government has seized gold holdings, and this can’t happen to Bitcoin, which exists in the digital world.

Given his prediction about the US’ monetary policy remaining the same, Hayes said people should turn to Bitcoin and not be deterred by the recent gains. They should not leave the market just because their positions are up 200% in the past several months.

He believes BTC’s price will keep going up and will not stop at $100K. He has made some quite bullish predictions in the past, including a $750,000 price tag for BTC in the next couple of years.

The post Here’s Why Bitcoin (BTC) Will Not Stop at $100K: Arthur Hayes (Live From Token2049) appeared first on CryptoPotato.

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