BitMEX co-founder Arthur Hayes has made a bold statement, sparking concerns over the potential collapse of the US Dollar. As the United States is establishing a Strategic Bitcoin Reserve, the US dollar is under a huge threat. In a risky bet, Hayes suggests to invest in Bitcoin and Gold as a hedge against the devaluing Dollar.
Gold & Bitcoin To Boost US Economy, Says Arthur Hayes
In his latest X post, BitMEX co-founder Arthur Hayes predicted the potential debacle awaiting the US Dollar. With the US’ adoption of Bitcoin as a strategic reserve, the Dollar is facing a risk of devaluation.
Significantly, Hayes shed light on the exponential growth of US treasury debt since 1971, when the country abandoned the gold standard. Hayes advises investors who search for a possible shift back to pre-1971 trade dynamics to invest in Bitcoin, gold, and gold miners. The BitMEX founder believes that these assets could provide a hedge against the dollar’s depreciation.
The Return of Gold as a Neutral Reserve Asset
Moreover, Arthur Hayes suggests that gold could return to its status as a neutral reserve. He argues that if nations hold gold in reserves, it would facilitate the free and affordable flow of gold in the emerging global monetary system. Given gold’s tariff-exempt status, Trump hinted at its potential use as a reserve asset.
Recently, Robert Kiyosaki, the author of “Rich Dad Poor Dad,” praised silver over gold and Bitcoin. He believes that silver is poised to hit $70 per ounce in the near-term and $200 in two years. He noted, “Silver for the next two months is the best of the three, gold, silver, and Bitcoin.”
Arthur Hayes Predicts Bitcoin’s Surge To $1M
In an ambitious prediction, Arthur Hayes asserted that the Bitcoin price could reach $1 million. He bases his prediction on the growing adoption of Bitcoin and its inclusion in national reserves. He hopes that Trump’s policies could fuel this crypto’s growth as a store of value.
This development follows Donald Trump’s pardon of Arthur Hayes and BitMEX’s three executives. While they pleaded guilty to breaching anti-money laundering and know-your-customer laws, the Trump government granted pardon to them.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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