Arthur Hayes is not only the founder of the cryptocurrency exchange BitMEX, but his unique market analysis and views have attracted the attention and discussion of many investors. Just yesterday (6th), in an interview with the foreign media "DL News", Hayes once again analyzed many recent hot topics, including the US election, encryption supervision, etc. This article summarizes his views as follows.
Whoever is elected will print money
First, with regard to the upcoming U.S. election in November, Hayes does not seem to be particularly excited about Trump’s public support of cryptocurrencies like other investors. He pointed out that in fact, neither Trump nor the new Democratic candidate If He Jinli wins, money will eventually be printed, thus driving up the cryptocurrency:
While people from the cryptocurrency space have donated a lot of money to the U.S. elections, I don’t think the money exceeds the funds from banking institutions such as JPMorgan Chase, Morgan Stanley, Citigroup, etc.
While it would be great for Trump to fulfill his promises after being elected, I think he will still run into the same problems he faced during his last term.
In fact, both the Trump and Harris administrations print money, but they do so in different ways, so cryptocurrencies will eventually rise.
Firing the SEC chairman won't work
In addition, Hayes’s evaluation of the U.S. Securities and Exchange Commission (SEC) and its chairman Gary Gensler, which has long been putting pressure on the cryptocurrency field, is not as disgusting as most people. He said:
Regulation in the United States is actually a political issue. Neither the SEC nor Gary Gensler is the problem. Even if Gary is fired, those regulatory rules that people are not satisfied with will still exist, because this is an issue for the leaders elected by the American people to consider, and they will not necessarily formulate a framework specifically for cryptocurrency. They have other things to think about behind the scenes.
The U.S. Bitcoin Reserve Plan Is Difficult to Realize
Hayes continued to point out that the Bitcoin reserve plan recently proposed by U.S. lawmakers is indeed a good thing, but the reality is that even if Trump currently supports cryptocurrency in a high-profile manner, it will be almost impossible to implement this plan after he wins the election:
What you need to know is that this plan requires a certain number of votes, and when voting, people need to consider the impact of this plan on the U.S. Treasury and the Federal Reserve, because they always have to maintain the stability of the U.S. bond market.
Extended reading: The United States is required to buy 1 million BTC in 5 years. Congressman Lummis’s Bitcoin reserve bill has been released. Where will the funds come from?
Bitcoin will skyrocket
Finally, Hayes pointed out that during this cycle, the price of Bitcoin is still expected to achieve unimaginable surges:
During this cycle, the price of Bitcoin will rise very sharply, ranging from hundreds of thousands of dollars to as much as $1 million.
