On July 2nd, Arthur Hayes, co-founder of BitMEX, published the latest article "Zoom Out" and said, "We have entered a new inflationary mega-cycle. This cycle is characterized by countries prioritizing their own interests, and inflation is high. Governments will once again finance wars by suppressing their own savers through finance.
There are two types of periods in history: local periods and global periods. During periods of local inflation, I should hold gold and avoid stocks and bonds. During periods of global deflation, I should hold stocks and avoid gold and bonds.
In the current cycle, we must pay close attention to the size of fiscal deficits and the amount of credit provided by banks to non-Financial Institutions Groups, rather than focusing on changes in central bank balance sheets in the past. "
Confident in the future of bitcoin in the face of data showing large fiscal deficits and loose monetary conditions, Hayes asserts that switching from fiat currencies to cryptocurrencies such as bitcoin will be the best way to preserve wealth as long as capital can still flow freely.
Hayes predicts that the current situation is highly similar to the 1930s-1970s, so he advises investors to prepare for a rainy day and move money from the fiat system to cryptocurrencies. When inflation hits, bitcoin will shine again.
Arthur Hayes: The new inflation cycle has arrived, and bitcoin will be the best haven for wealth
2024-07-02 00:11:35
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