BitMEX founder: Banking crises will further increase the price of Bitcoin and make Bitcoin valuable.
Bitcoin becomes valuable Arthur Hayes
Arthur Hayes, the founder of BitMEX, stated that the price of Bitcoin (BTC) has increased due to the recent US banking crisis, and in his view, First Republic Bank is dead.
The founder of BitMEX stressed that the banking crisis will not end until the US Federal Reserve cuts short-term interest rates, adding that the uncertainty of the central bank’s actions will drive up the price of gold and bitcoin.
According to Hayes, First Republic Bank is on the brink of collapse. Earlier this week, the bank’s shares fell more than 50 percent as customers pulled more than $100 billion from the bank, deepening the 2023 US banking crisis. Recently, it was announced that the US government will not intervene to save troubled banks.
Arthur Hayes continued that if the US imposes more sanctions on Russia, the condition of the banks will worsen. He has also raised this point in previous interviews. These financial crises in America and in the whole world will not calm down soon, so his outlook is positive like many who agree with Bitcoin.
It is necessary to know that Arthur Hayes is one of the American entrepreneurs, of African descent, who is known as the youngest billionaire in the field of crypto and is currently 38 years old. Do you agree with Arthur Hayes’ analysis that Bitcoin is becoming valuable? Take a moment to comment
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