BitMEX co-founder Arthur Hayes indicates in a recently posted piece that a shift in central bank policy is about to herald a new bull run in the crypto market.

In the new report, Hayes, now the CIO of crypto investment fund Maelstrom, notes that both the Bank of Canada (BOC) and the European Central Bank (ECB) have decided to cut interest rates. This, according to Hayes, could indicate that a global shift towards looser monetary policy may be underway. If the US Federal Reserve follows suit, this could lead to a rise in riskier assets such as cryptocurrencies. He describes it as follows:

“The June central bank fireworks, kicked off this week by the BOC and ECB rate cuts, will catapult crypto towards the Northern Hemisphere. This was not my expected base case. I thought the fireworks would start in August, right around the time the Fed hosts its Jackson Hole symposium. That’s usually where abrupt policy changes are announced in the fall. The trend is clear. Central banks that are on the margins are starting easing cycles.”

According to Hayes, the new chapter of monetary policy means it’s time to “go long Bitcoin and then sh*tcoins.” The crypto veteran says the following:

“The macro landscape has changed from my baseline. That’s why my strategy will also change. For the Maelstrom portfolio projects, who asked for my opinion on whether to launch their tokens now or later. I say: let’s go!

For my excess liquid synthetic dollar cryptocurrency, aka Ethena’s USD (USDe), which is delivering some cool APYs (annual percentage returns), it’s time to redeploy it to conviction shitcoins. Of course, I’ll tell readers what they are after I buy them. But suffice it to say that the crypto bull is awakening again and is about to pierce the hides of profligate central bankers.”


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