Arthur Hayes Predicts Bitcoin and Stock Price Rise Amid Fiat Debasement Concerns
Arthur Hayes, co-founder of BitMEX, predicts that forthcoming fiat currency devaluation will drive up Bitcoin (BTC) and stock prices.
Hayes, an experienced figure in the crypto industry, asserts that the economy is entering a new phase of inflation, confident that BTC will rebound strongly.
Hayes references projections by the Congressional Budget Office (CBO), which forecasts a record $1.9 trillion federal deficit for fiscal year 2024, excluding COVID-19 years. He explains his perspective, stating, “I foresee no recession ahead. Despite financial hardship for many, the U.S. economy will persevere.”
Highlighting loose fiscal and monetary policies, Hayes advocates holding cryptocurrencies as a hedge against wealth erosion.
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Drawing parallels to historical periods like the 1930s to 1970s, he emphasizes the importance of shifting assets from fiat to crypto amid anticipated credit expansion and centralized financial controls.
Moreover, Hayes anticipates that corporations will bolster their stock prices through leveraging cheap credit. He notes, “Central banks have injected liquidity into markets by purchasing bonds, reducing borrowing costs and increasing credit availability.
Companies can capitalize on this by using cheap loans to execute stock buybacks, thereby boosting shareholder value.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
