BitMEX founder Arthur Hayes, published today blog is a thought-provoking post on his company. He talks about the impact of the COVID-19-crisis in the world economy and notes that nothing will be as it once was.
“The USD-fiction is over. It is time for a new spiritual crutch.“ He decides to use Bitcoin, and Gold – what will be your fiction?
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Arthur Hayes over the supposed conditions after the Covid-crisis
As charismatic as ever is his latest Post on the Bitmex Blog, but definitely worth the read. It is a kind of summary of The Bitcoin default with a more popular language. There are also some dark contains predictions about the world after the COVID-19. .
Hayes predicts a total collapse of the USD. He says that the USA is the only country that can devalue its currency, to the extent that it is necessary to generate in order to continue economic activity. Then he talks about the common Problem of printing too much money, rampant Inflation and…:
Remember that all raw materials are measured in dollars. If you print too much money to monetize their debts, will progress your currency crater and the Inflation of grass. At this point, the Jacobins come on the road and you should eat no cake.
Hayes says that he sees the world:
I have no idea on the Timing, but the strong USD will break the world economy, the backbone, and a Reset force. The question is, how the new System will look like.
All-In-Motherfu**ers in the direction of Bitcoin and Gold
All of the global Chaos and financial collapse will ultimately swing the pendulum to Bitcoin. He says that the Setup for Bitcoin, “the hardest Form of digital money, could not be better”. He does not know, however, exactly when the Public will move on. In fact, he discards the fact that BTC could test in the near future again for $ 3,000:
Could you test the price again to $3,000? In any case. If the SPX to fall, and 2,000 tests, it is expected that all asset classes are gonna be sick again. So violently, the break-in of assets in of 1. Quarter was, we have nearly weights 100 years, unequal to the ancient System to dissolve.
Despite this sobering scenario, Hayes is still behind its previous demand for a Bitcoin price of 20,000 US dollars at the end of the year 2020. So this is something you can hope for, even if the world around you is crumbling.
Finally, Hayes notes that it is during the Transition to the new currency system after the total collapse of the Fiat to have only two things. The are Bitcoin and Gold.