Arthur Hayes, Former CEO of BitMEX The founder of the BitMEX cryptocurrency exchange, Arthur Hayes, revealed his cryptocurrency portfolio, while predicting that 2023 could be a great year for the digital asset industry. His “super power” portfolio includes Bitcoin (BTC), Ethereum (ETH), LooksRare (LOOKS) and GMX.
Bitcoin will rebound in 2023. The Fed is here to help
In a recent blog post, he revealed that he believes the Federal Reserve (Fed) will start printing money again next year, which could serve as a catalyst for a massive Bitcoin (BTC) and other risk asset rally. “I don’t know if $15,900. was the day of this cycle. But, I’m sure it was due to the end of the forced sale caused by the contraction in the credit industry. I don’t know when or if the US Federal Reserve will start printing money again. However, I believe that the US treasury market will become dysfunctional at some point in 2023 due to the tightening of monetary policy by the Fed. Then I expect the Fed to turn on the printer, and Bitcoin and all other risk assets will gain,” commented Arthur Hayes. Founder; BitMEX says that while waiting for the Fed to start printing money again, it plans to make money by buying US Treasuries. – Everything is cyclical. What goes down will go up again. I like to earn close to 5% investing in US Treasury bills with a maturity of less than 12 months. And that’s why I want to earn while I wait for the return of the bull market in the cryptocurrency market – he added.
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Ethereum, LooksRare and GMS in Hayes’ “super strong” portfolio
The venture capitalist has also revealed some of his investments, including the GMX derivatives exchange token and the LooksRare (LOOKS) NFT marketplace. He described the assets as “super strong”. Hayes is mainly interested in digital assets that have a correlative beta with Bitcoin and Ethereum, meaning that if one or both of the top two digital assets were to rise, the altcoins in question would also start gaining. – My ideal cryptocurrency assets must be correlated with Bitcoin and to a lesser extent with Ethereum. These are cryptocurrency reserve assets. If they are growing, my asset should increase by at least the same amount – this is called beta cryptocurrency – he commented. – This asset must generate income that I can collect as a token holder. And that income must be much more than the 5% I can earn by buying six or twelve month bonds. I have some super strong ones in my portfolio like GMX and LOOKS,” he concluded.
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