Arthur Hayes, co-founder of BitMEX, shares a bullish outlook on the future of cryptocurrency driven by ongoing global monetary expansion. In a recent conversation with Kyle Chassé, he emphasized that governments, particularly under the influence of fiscal policies reminiscent of the Trump administration, are likely to continue printing money well into 2026. This unprecedented liquidity is expected to bolster the existing crypto bull market.
Hayes argues that Bitcoin outperforms traditional assets like stocks, real estate, and gold when adjusted for currency debasement. He advises investors to maintain a long-term perspective, suggesting that impatience during short-term fluctuations is misguided.
In discussing the broader implications of U.S. fiscal policy, Hayes believes that the second term of President Trump has not yet unleashed the full potential of spending programs that could be expected from mid-2026 onwards. He acknowledged that while there could be a point where extreme money printing would prompt him to take some profits, the prevailing sentiment among investors undervalues the significant liquidity set to flow into both equity markets and cryptocurrencies.
Hayes connects his forecast to global geopolitical shifts, particularly the decline of a unipolar world, which he believes tends to incentivize governments towards fiscal stimulus as a stabilizing tool for citizens and markets. He pointed to potential economic strains in Europe, hinting that events like a French default might further accelerate global currency printing.
Despite concerns about Bitcoin’s recent performance — particularly after reaching a peak of $124,000 in August — Hayes reassures investors by comparing Bitcoin’s gains against other asset classes. He notes that, unlike U.S. stocks, which remain underperforming when viewed against gold since the 2008 financial crisis, Bitcoin demonstrates robust potential as traditional assets lag.
He explains that for investors fixated on Bitcoin’s weekly highs, expectations should be recalibrated. Both traditional finance and crypto observers operate under the shared premise that governments will resort to money printing during downturns. In contrast, crypto investors regard Bitcoin as the superior asset.
Hayes concludes that those holding Bitcoin should focus on the compounding growth expected over years rather than fleeting short-term gains, believing the ongoing cycle could indeed extend far into 2026, showing no signs of fatigue.
For further details, refer to the full interview with Kyle Chassé here.
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