Arthur Hayes Says Solana Is High Beta Bitcoin Amid US Elections

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Arthur Hayes, co-founder of BitMEX and CIO at Maelstrom, favors Solana ahead of the US election, describing it as “high beta Bitcoin” during an appearance on the Unchained podcast.

With the election just days away, Hayes explained that Solana is a good bet because it is very liquid and likely to surge if Bitcoin performs well.

Furthermore, Hayes asserted that in the long run, it will not matter who wins the US elections, as the overriding influence on digital assets will be the FED’s decision on whether or not to cut rates on November 7.

“The big picture remains focused on the Federal Reserve’s monetary policy rather than the immediate election results,” he explained.

Hayes also noted that he prefers Solana over ETH, describing Ethereum as “too slow” right now and in need of a narrative shift to change people’s mindset regarding its poor performance these days. recent months.

He noted that Solana currently has “mind share,” scales quickly, and will likely outperform Bitcoin when the market rises, while Ethereum is “beta equal” to Bitcoin, or perhaps even a little lower.

During the podcast, Hayes pointed out that Solana’s impressive rise from around seven dollars to over a hundred and eighty dollars, especially after FTX’s collapse, highlights its ability to quickly gain and retain value .

Hayes also addressed regulatory aspects, warning that significant improvements in crypto regulation are unlikely regardless of political changes.

His advice to investors and traders is to focus more on market fundamentals rather than political developments, which often have transitory impacts on market dynamics.

The session concluded with Hayes highlighting the strategic importance of selecting high beta assets like Solana during times of expected monetary easing.

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