Arthur Hayes, co-founder of BitMEX, says crypto assets will likely benefit from US monetary policy in the future.
In a new essay, Hayes argues that the U.S. Treasury and Federal Reserve engage in “stealth money printing policies.”
According to the BitMEX co-founder, “slowly adding billions of dollars of liquidity each month will cushion negative price movements” for crypto assets.
“While I don’t expect crypto to fully realize the inflationary nature of recent U.S. monetary announcements immediately, I do expect prices to bottom out, collapse, and begin a slow rise. “
Hayes says the recent decline in crypto asset prices has provided a great accumulation opportunity.
“I buy Solana and dog coins (memecoins) for dynamic trading positions. For longer term sh*tcoin positions, I am increasing my allocations in Pendle and will identify other “on sale” tokens.
I’m going to take advantage of the rest of May to increase my exposure. And then it’s time to set it, forget it and wait for the market to realize the inflationary nature of recent US monetary policy announcements.”
The founder of BitMEX is an advisor and investor in Pendle (PENDLE), a decentralized finance crypto project that allows users to tokenize and sell future returns.
Regarding his Bitcoin (BTC) forecast by August, Hayes says:
“A rally above $60,000, then price action in the $60,000-$70,000 range through August.”
Bitcoin is trading at $62,726 at the time of writing.
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