Arthur Hayes warns: “These Bitcoin investors will be liquidated!”
- With more than a decade of experience, the BitMEX co-founder is considered a true veteran of the crypto market. He now explicitly warns Bitcoin newbies against investing in the digital gold with exaggerated expectations.
- “If you thought you were going to buy Bitcoin and then a Lamborghini the next day, you'd probably get liquidated,” the US crypto billionaire explains in a new YouTube interview. That's not the right way to think about things.
- At the time of writing, the leading cryptocurrency is trading at $116,100, representing a price increase of 4.6 percent compared to the previous week. The expected US interest rate cuts next Wednesday, in particular, have recently given investors hope for a continuation of the bull run.
- However, Hayes expresses little understanding for the impatience of short-term investors: “I’m sorry you bought Bitcoin six months ago, but everyone who bought it two, three, five, or ten years ago is laughing now.”
- “People need to readjust their perspective on this,” says the crypto veteran. Taking into account the devaluation of fiat currencies, Bitcoin is still by far the best-performing asset of all time, despite the recent sideways phase.
- Although the US benchmark S&P 500 index has recently “risen in US dollar terms,” it has still not recovered from the 2008 financial crisis compared to the price of gold. The same applies to the real estate market.
- Nevertheless, one shouldn't be blinded by the gold rally. The physical precious metal reached a new all-time high of $3,666 on Tuesday. But no asset class can compete with Bitcoin: “If you deflate the numbers with Bitcoin, you don't even see it on the chart; it's just absurd how well BTC has performed.”
- In April, Arthur Hayes predicted that the BTC price could rise to $250,000 by the end of the year. Learn more about his investment strategy in this article: “How the Crypto Billionaire Invests—and What He Avoids.”
Recommended Video: The Great Bitcoin Paradox: 1 Million in Sight – But Not for Everyone? | Arthur Hayes Exclusive
Sources
- Kyle Chasse in conversation with Arthur Hayes | YouTube
