In a recent interview, investment expert Arthur Hayes, co-founder of BitMEX, shared his insights on the future of Bitcoin and the errors in its valuation.
Incorrect Comparisons of Bitcoin
Hayes believes that the biggest mistake is valuing Bitcoin in comparison to gold or stocks. He argues that this is misleading since even after the 2008 financial crisis, U.S. stocks failed to compensate for their losses against gold.
Long-Term Prospects of Bitcoin
Despite a recent 6% drop that has worried short-term investors, Hayes is confident that Bitcoin still has significant upward potential. He predicts that Bitcoin could reach $250,000 by the end of the year.
Investment Trends and Interest in Bitcoin
The total reserves of Bitcoin investment products have reached 1.47 million BTC, equaling 7% of the total supply. This demonstrates the confidence that investment funds have in Bitcoin and the increasing institutional interest in Bitcoin ETFs.
Arthur Hayes reminds that investing in Bitcoin requires patience and a long-term perspective, emphasizing its role as a response to currency devaluation.
