Arthur Hayes, founder of BitMEX and crypto industry veteran, says there is massive trading to play as the digital asset market grows.
In a new interview on the CryptoBanter YouTube channel, Hayes claims that the crypto bull market began in March 2023, when the Federal Reserve printed billions of dollars to support the struggling US banking sector.
Hayes calls the move “stealth” money printing that ultimately triggered Bitcoin (BTC)’s entry into a new bull market.
“Every bull market feels good at the beginning, then it drags on and then we fall. We started the bull market. We started in March 2023 when the Fed stealthily printed $4 trillion, Bitcoin went from $20,000 to $74,000 and now we have the president and all his aides lined up to say “We’re going to print this much money as possible to try to undo 30 years.” of “Chineseization of global manufacturing”, and it is therefore a massive trade.
At the same time, China is printing money, Europe is printing money, and Japan is printing money. So everyone is printing money, the United States is going to try to print as much money as possible.”
As the markets begin to rise, Hayes has his eye on Solana (SOL), the biggest rival to Ethereum (ETH). According to the CIO of Maelstrom, SOL will continue to outperform ETH, at least in the short term.
“I think it’s Solana in the short term, and that’s because it’s the ‘up and coming’ crypto. Why did you buy it? It’s going up. The number is increasing.
Everyone sees the number increasing, I will buy that the number increases too. I call it high beta Bitcoin. I want a little more juice. If I think the market is going to explode, I will buy SOL.
The reason SOL has done so well since post-FTX when it got to $7… is that the profitability of the chain has improved significantly. And so, from a low base, obviously, it’s easy to really outperform, transactions are increasing, it’s super cheap, it’s profitable now…
If you look at the revenue growth over the last 18 months, it’s great and it matches the crypto price growth.
At the time of writing, Solana is trading at $203, up more than 2% on the day.
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