On March 16, Arthur Hayes, co-founder of the cryptocurrency exchange Bitmex, published an article predicting that the price of gold will reach 10 thousand dollars and Bitcoin will reach 1 million dollars…
Arthur Hayes gave his million-dollar forecast
Since the beginning of the Russia-Ukraine war, there have been many economic disasters as financial conditions around the world tightened and sanctions were imposed on Russia by a large number of countries. According to the news published on March 13, which we quoted as Kriptokoin.com, the Minister of Finance of the Russian Federation Anton Siluanov announced that half of the country’s gold and foreign exchange reserves were frozen. Siluanov’s statements sparked speculation about an independent international monetary and financial system between the Eurasian Economic Union (EAEU) and China.
In the environment we mentioned above, Arthur Hayes, the co-founder of the crypto money exchange Bitmex, on March 16, announced the cancellation of the world’s largest energy exporter and the “Petro Dollar / Euro Dollar monetary system”. published a blog post addressing its termination.
The blog post by Hayes is extremely long but comprehensive and with sourced data full. Hayes emphasizes that historians will call February 26, 2022 the end of the monetary system controlled by the “Petro Dollar” and the “Euro Dollar”. “I am 100% confident that there will be a financial crisis of epic proportions based on the losses faced by commodity producers and investors touching every aspect of the globalized financial system,” he explains in his blog post.
“Gold 10,000, Bitcoin to hit $1 million”
Continuing his blog post, Hayes says he believes there will be a “phase shift” much higher than today’s price of gold. He believes that competition and demand will “push the marginal final price well above $10,000 and we may see enormous prices for gold that seem unbelievable.” Hayes states that if gold jumps to $10,000 an ounce or higher, it will “psychologically shock” world asset markets. He firmly believes that the value of most fixed assets that people use to hedge risk will skyrocket, including Bitcoin (BTC).
Hayes’ price prediction shared the following sentences:
As gold rises above $10,000, Bitcoin will move towards $1,000,000. The bear market in fiat units will trigger the largest transfer of wealth the world has ever seen.
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