Arthur Hayes, the former CEO of BitMEX, has expressed his belief that the upcoming US election in November will have a positive impact on Bitcoin. He predicts that regardless of who wins, there will be looser monetary policies and more money will be printed and released into the economy. Hayes suggests that President Biden, in his bid for re-election, will implement measures to stimulate the economy, which historically aligns with an increase in the price of Bitcoin. Hayes also speculates that key figures such as Janet Yellen and Jerome Powell will prioritize fiscal policies to support Biden’s campaign. Despite this, Hayes remains bullish on Bitcoin and advises those with fiat currencies to invest in the market. He also discusses the impact of M2 on Bitcoin’s price, highlighting that although M2 has been flat, gold and crypto have been performing well. Hayes believes that institutional investors, particularly issuers of spot Bitcoin ETFs, will play a significant role in driving Bitcoin’s future price movement. He cites the increasing adoption of crypto by institutional players as evidence of this trend. Overall, Hayes is optimistic about Bitcoin’s future and predicts that its price will continue to rise beyond $100,000.
