According to Gamza Khanzadaev
Why Arthur Hayes, the former CEO of BitMEX, recently resumed buying orange coins
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Arthur Hayes, the co-founder and chief executive officer of the BitMex crypto exchange announced that he is resuming Bitcoin purchases after a two-month hiatus. He also submitted an essay explaining his decision in detail.
The whole explanation of Hayes’ investment decision could be summed up in two words: “Be Present,” yet a deeper understanding of the author’s thinking is worth reading her essay in full.
What is present state of Arthur Hayes?If we try to find a middle ground between the two words and Hayes’ full text, however, we can say that he relies on U. S. monetary policy, or rather, what actions it forces regulators to take.
Accordingly, since the U.S.’s debt ceiling has peaked, The Treasury will start spending money from the TGA to buy it, thereby adding liquidity and raising asset prices—including those of cryptocurrencies. At the same time, this action by the U.S. government could cause other countries’ central banks to follow suitThe Federal Reserve’s monthly balance sheet clean-up as part of its quantitative tightening policy will more than be offset by the new treasury purchases announced today.
So, at some point such actions will lead to a deadlock—where choices have to be made and markets definitely hit. But one must keep a flexible mind in the present, Hayes says.
