Bitcoin Surge Imminent? Arthur Hayes Links War-Fueled Inflation To Crypto Boom
Better times for Bitcoin may lie ahead as the co-founder of BitMEX feels that the current geopolitical tensions in the Middle East may only push the cryptocurrency to rise higher. According to Arthur Hayes, the effects of war would resonate intensely in the US economy in the form of increased government spending and inflationary levels of monetary policy.
Hayes believes more borrowing will ensue with increasing military spending and that this borrowing will be serviced by more balance sheet expansion by the Federal Reserve and commercial banks, all ultimately to the detriment of the US dollar.
Hayes is quick to note that in times when traditional fiat currencies are weakening, Bitcoin stands to gain because it acts as a hedge…
