Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.
In a recent interview, Arthur Hayes, the co-founder of BitMEX, shed light on two pivotal factors he believes will set the stage for a significant bull run in the cryptocurrency domain.
Speaking with Crypto Banter, Hayes underscored the transformative potential of artificial intelligence (AI) commercialization and the unparalleled money printing by the Federal Reserve.
When combined, he said he is convinced that these elements will thrust cryptocurrencies to outstanding peaks.
At the latest Token2049 event, Hayes unveiled his "double happiness" theory, painting a picture of the forthcoming bull market.
“So I had this thesis I presented at Token2049 called ‘double happiness,’ and it was about the bull market that we’re about to experience — that we’re on the cusp of — and it’s a combination of the most amount of money ever printed in human history in a two- to three-year period and the commercialization of AI and how that relates to crypto as the most transformative technological development that’s ever happened in human history," Hayes said.
"These two things combined are going to produce the most epic bull market in crypto and just about everything else that’s sort of a risky asset around the world,” he added.
Hayes also delved into the expected surge in debt from economic powerhouses such as the U.S., Europe and China.
“I did the research into how much debt is actually going to be issued by the U.S., China, Europe and Japan, and it surprised me to the upside," Hayes said.
He expressed astonishment at the projected debt magnitude and highlighted the prospective advantages of digital currencies.
"It’s just so ridiculous how much money is going to be printed over the next two to three years while the central banks try to save the government bond markets that I guess I’m just so bullish on Bitcoin, crypto, certain stocks [and] so bearish on fiat just because there’s going to be umpteenth more trillions of dollars of it," he said.
Now Read: Arthur Hayes Slams 'Parasitic Fiat Banking' Printing 'Fiat Toilet Paper,' Says Bitcoin's Value Set To Rise
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.