Arthur Hayes, the founder of Bitmex, has advised investors to “go long on Bitcoin” amidst reports that G7 central banks may slash interest rates. This recommendation comes as a response to the potential impact of lower rates on traditional currencies.
Hayes’ advice is based on the belief that Bitcoin could serve as a safe haven asset in the face of economic uncertainty caused by central bank actions. With the possibility of interest rate cuts looming, many investors are turning to alternative assets like Bitcoin to protect their wealth.
Central banks in the G7 countries are considering lowering interest rates to stimulate economic growth and combat the effects of global trade tensions. This move could lead to a depreciation of traditional currencies, making Bitcoin an attractive option for investors looking for stability.
As the founder of a leading cryptocurrency exchange, Hayes’ recommendation to “go long on Bitcoin” carries weight in the crypto community. With the potential for central banks to slash rates, many investors may heed his advice and increase their exposure to Bitcoin as a hedge against traditional currency devaluation.