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Arthur Hayes (Live from Token2049)

While BitMEX co-founder Arthur Hayes discussed the monetary policies of the US government and other economic giants such as China and Japan, he emphasized that Bitcoin is the only suitable solution in times of expanding central bank balance sheets.

He made these comments during the current Token2049 conference in Dubai.

Hayes began by noting that real yields will continue to be negative, which the Federal Reserve and Treasury are actively trying to maintain. This is because they are allowed to borrow at lower interest rates.

If this trend continues, as has been the case over the past few decades, Bitcoin and other cryptocurrencies will continue to rise in value, said the former BitMEX executive. However, he also cautioned against the opposite, but said the likelihood of real yields turning positive in the foreseeable future is very low.

He believes that the GDP numbers claimed by the US and other governments are artificial and are being released to the public to keep them in check.

The solution to this fiat monetary policy lies outside of that, he noted. Hayes highlighted gold as the historic choice because it has existed for thousands of years. He said the yellow metal has served its purpose for a long time, but it has numerous disadvantages that are circumvented by owning an asset that has all of its advantages, without the potential negative sides – Bitcoin.

As seen in his talk, gold is difficult to transport, especially in large quantities, while BTC is digital. There have been numerous examples throughout history of the government confiscating gold holdings, and that cannot happen to Bitcoin, which exists in the digital world.

Given his prediction that US monetary policy will remain unchanged, Hayes said people should turn to Bitcoin and not be deterred by recent gains. They should not exit the market just because their positions have increased by 200% in the last few months.

He believes that the price of BTC will continue to rise and not end at $100,000. He has made some pretty optimistic predictions in the past, including a price of $750,000 for BTC in the next few years.

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