BlockBeats News, March 11th, BitMEX co-founder Arthur Hayes had previously predicted that Bitcoin would rise to $250,000 this year, but he recently stated that he would rather wait and see than invest in Bitcoin at the moment, waiting for the Fed to loosen its monetary policy before taking action.
Arthur Hayes said in a YouTube podcast called “Coin Stories” released on Tuesday: “If I have $1 now to invest, would I put it in Bitcoin? No. I would wait. The longer this conflict lasts, the more likely the Fed will be forced to print money to support the U.S. war machine. When central banks start printing money, that’s when I’ll buy Bitcoin.”
Hayes pointed out that while some people believe “war is good for Bitcoin,” a more accurate view is that “money printing is good for Bitcoin.”
Hayes also added that he could not be sure if Bitcoin has already hit the price bottom, but ongoing geopolitical tensions could further push down the price.
“With the unfortunate war between the U.S. and Iran, I think there is a scenario where the longer this situation lasts, the more likely we are to see massive sell-offs in stocks and Bitcoin,” he said. The current situation could lead to Bitcoin falling below $60,000 and could “trigger massive domino-style liquidation.”
