Former BitMEX founder Arthur Hayes predicts a surge in Bitcoin (BTC) and other cryptocurrencies as the US government ramps up money printing ahead of the November presidential election.
Deleveraging Debt
Hayes argues that major economies, including the US, China, the EU, and Japan, are devaluing their currencies to reduce their debt burdens. This process, known as “deleveraging,” is expected to lead to a surge in fiat liquidity, which will drive up the prices of cryptocurrencies.
Political Uncertainty
Hayes points to the ongoing political turmoil in the US as a catalyst for increased government spending. He believes that the government will resort to money printing to “solve” the economic fallout from the COVID-19 pandemic and the 2008 financial crisis.
Golden Opportunity
Hayes advises investors to take advantage of the recent dip in crypto prices and gradually increase their positions. He believes that the next few months will present a “golden opportunity” for crypto enthusiasts to add to their portfolios.
Disclaimer
The opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin or other cryptocurrencies.
