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.
The post Arthur Hayes Urges Buying Bitcoin & Gold as US Dollar Collapses appeared first on CoinGape.
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