Bitmex’s Hayes: Fiat Instability Could Skyrocket Bitcoin
- BitMEX’s Arthur Hayes believes that fiat will implode, pushing Bitcoin up.
- ATFX Global Markets reported a 30%-40% surge in yen shorts in the past week.
- Most of the short positions were occupied by hedge funds and high net worth clients.
Arthur Hayes, the co-founder of the digital asset trading platform BitMEX, has predicted that the price of the world’s largest cryptocurrency by market capitalization, Bitcoin (BTC), will skyrocket if the fiat system implodes in the near future or “if more fiat liquidity chases assets with finite supplies.”
Hayes shared his thoughts on social media platform X (formerly Twitter), to discuss the scenario where the Bank of Japan (BOJ) and the United States Federal Reserve would not allow the US dollar and Japanese yen interest rate differential to narrow.
A lesson in Moral Hazard. If the BOJ and FED won’t allow the $-yen interest rate differential to narrow, the market will continue to pile on leverage. $BTC pumps if fiat system collapses or if more fiat liquidity chases assets with finite supplies.
— Arthur Hayes (@CryptoHayes) August 16, 2024
Yachtzeepic.twitter.com/cxG9vsrzjo
Hayes referenced a Bloomberg r…
The post Bitmex’s Hayes: Fiat Instability Could Skyrocket Bitcoin appeared first on Coin Edition.
Read More
TOKEN2049: Arthur Hayes Presents Case for $1 Million Bitcoin Price by 2028
As FOMO Spikes and Whales Exit, Bitcoin’s Top May Be In Sight
Bitmex’s Hayes: Fiat Instability Could Skyrocket Bitcoin
- BitMEX’s Arthur Hayes believes that fiat will implode, pushing Bitcoin up.
- ATFX Global Markets reported a 30%-40% surge in yen shorts in the past week.
- Most of the short positions were occupied by hedge funds and high net worth clients.
Arthur Hayes, the co-founder of the digital asset trading platform BitMEX, has predicted that the price of the world’s largest cryptocurrency by market capitalization, Bitcoin (BTC), will skyrocket if the fiat system implodes in the near future or “if more fiat liquidity chases assets with finite supplies.”
Hayes shared his thoughts on social media platform X (formerly Twitter), to discuss the scenario where the Bank of Japan (BOJ) and the United States Federal Reserve would not allow the US dollar and Japanese yen interest rate differential to narrow.
A lesson in Moral Hazard. If the BOJ and FED won’t allow the $-yen interest rate differential to narrow, the market will continue to pile on leverage. $BTC pumps if fiat system collapses or if more fiat liquidity chases assets with finite supplies.
— Arthur Hayes (@CryptoHayes) August 16, 2024
Yachtzee
Hayes referenced a Bloomberg r…
The post Bitmex’s Hayes: Fiat Instability Could Skyrocket Bitcoin appeared first on Coin Edition.
Read More
TOKEN2049: Arthur Hayes Presents Case for $1 Million Bitcoin Price by 2028