BitMEX co-founder Arthur Hayes says crypto assets are likely to benefit from U.S. monetary policy in the future.
In a new essay, Hayes says the U.S. Treasury Department and Federal Reserve are engaged in a “stealth money printing policy.”
According to the BitMEX co-founder, “the slow addition of billions of dollars of liquidity each month dampens negative price movements” in crypto assets.
“While we do not expect cryptocurrencies to fully realize the inflationary trend of recent US financial announcements any time soon, we do expect prices to bottom out, be devalued, and begin to rise slowly.”
Hayes says the recent decline in crypto asset prices provides a great opportunity to accumulate crypto assets.
“I am buying Solana and Dogeecoin (memecoin) for a momentum trading position. For a long-term shitty coin position, I plan to increase my Pendle allocation and identify other tokens “on sale” .
We will use the rest of May to increase our exposure. And it's time to set it and forget it and wait for the market to understand the inflationary nature of recent US monetary policy announcements. ”
The founders of BitMEX are advisors and investors in PENDLE, a decentralized financial crypto project that allows users to tokenize and sell their future yields.
Regarding his predictions for Bitcoin (BTC) from now until August, Hayes says:
“The price rose to over $60,000 and then ranged between $60,000 and $70,000 until August.”
At the time of writing, Bitcoin is trading at $62,726.
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