Arthur Hayes, one of the co-founders of BitMEX, predicts that a recent policy shift by central banks will propel crypto assets into a positive trajectory.
In a recent article, Hayes, who now serves as the Chief Investment Officer of Maelstrom, a crypto investment fund, highlights the decisions made by the Bank of Canada (BOC) and the European Central Bank (ECB) to reduce interest rates.
Hayes believes that these actions by Europe and Canada indicate a potential global shift towards a more relaxed monetary policy, which could lead to a surge in risk assets once the US Federal Reserve follows suit.
“The recent rate cuts by the BOC and ECB have set off a series of central banking events that will shake up the crypto market out of its summer lull in the northern hemisphere. This was not the scenario I had anticipated. I had expected the fireworks to start in August, coinciding with the Fed’s Jackson Hole symposium, where major policy changes are typically announced leading into autumn.
The pattern is evident. Central banks are gradually beginning to ease their monetary policies.”
According to Hayes, the changing landscape of monetary policy signals that now is the time to invest in Bitcoin and other cryptocurrencies.
As a seasoned crypto investor, Hayes advises, “The macroeconomic environment has shifted from my initial expectations, and therefore, my investment strategy must adapt accordingly. For the projects in the Maelstrom portfolio seeking guidance on the timing of their token launches, my advice is simple – Let’s take action!
As for my surplus crypto holdings in USDe, which are currently earning attractive annual percentage yields, it’s time to reinvest in promising cryptocurrencies. I will share the specifics of my investments once they are made, but rest assured, the crypto bull market is on the horizon and poised to challenge the practices of central bankers.”
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