Arthur Hayes, founder of BitMEX and Maelstrom CIO, said Trump is not necessarily pro-Bitcoin, as most crypto holders think.
BitMEX founder Arthur Hayes said that Trump is not necessarily pro-Bitcoin, as most crypto holders think. He said it’s up to watch what will happen after November election regarding crypto.
However, he believes that, whoever wins the Election – won’t impact cryptospace too much.
Arthur Hayes Warns Crypto Holders: Don’t Mistake Trump as Pro-Bitcoin
In a recent interview with Channel News Asia, BitMEX founder Arthur Hayes seemingly slammed Donald Trump saying crypto holders mistakenly view Trump as pro-Bitcoin. According to him, during Trump’s last tenure there was no crypto-friendly policies brought.
He stated:
“I think crypto holders mistakenly believe that trump is pro-Bitcoin. Maybe. However, he was in office for four years and he didn’t enact any positive policies for crypto. Kamala Harris and Joe Biden also didn’t. It’s a watch. We don’t know what they’re going to do but we know that they’re going to print money.
The Trump is going to cut taxes and Kamala will increase welfare payments. And so, the deposit is going to grow. The US government will want to issue more debt, print money to buy it and that could positively impact bitcoin and other crypto assets.”
He noted that regardless of a Trump or Harris presidency, money printing and increased US debt issuance could ultimately boost Bitcoin and other crypto assets, driven by policies like tax cuts or welfare spending.
My recent interview with @ChannelNewsAsia pic.twitter.com/yLnkcQaOnG
— Arthur Hayes (@CryptoHayes) October 31, 2024
Hayes added that, if Trump was to be elected, he would choose to go with the weak USD policy. That, in his opinion, would be very positive for crypto, gold, stocks and even oil prices. However, he thinks Kamala Harris would do exactly the same and it’s just the question of timeframe.
China’s Stimulus Will Fuel Bitcoin Boom
Arthur Hayes, therefore, claims US Fed rate is “calm before the storm”. Meaning, because Fed is cutting rates, China is going on with it’s stimulus because they want strong yuan. He said crypto would do very well in war-situation.
In a significant policy shift, the Federal Open Market Committee (FOMC) recently lowered interest rates by 50 basis points, marking a departure after nearly four years of tightening monetary policy. Federal Reserve officials, including Chairman Jerome Powell, suggested this could be the first of several cuts, contingent on future economic conditions. This easing signals the Fed’s responsiveness to emerging economic challenges and its commitment to sustaining growth amid evolving financial pressures.
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