BitMEX co-founder Arthur Hayes believes the bull market for Bitcoin (BTC) and cryptocurrencies is just beginning.
In a new interview on Empire, Hayes said people will allocate funds through their retirement accounts to the newly approved Spot Bitcoin Exchange Traded Fund (ETF).
The cryptocurrency veteran says funds in retirement accounts represent a “sticky flow” that is resilient to price declines.
“Sales forces are just starting up around the world; [saying] “Hey, put your assets here and we'll protect you from inflation.” Of course I have issues, but that's the story and it's working well. This is the best-selling product ever for these ETF providers. They're going to do more, whether it's Ethereum, Solana, or other altcoins.
It's just the beginning. We haven't even gotten to the fun part yet. People are just getting back on the water. It's fun, but it's just the beginning. Maybe he could have made a 10x profit on the shitty coins he bought and sold. Now that shit is multiplied by a thousand. We're not even there yet. ”
At the time of writing, Bitcoin is trading at $72,752, up nearly 2% in the past 24 hours. The top-ranked cryptocurrency by market capitalization hit a new all-time high of $73,603 early Wednesday morning.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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