TechFlow News — Arthur Hayes, founder of BitMEX, recently published a new article titled "Be Present," in which he admitted making recent mistakes in financial market predictions, likening them to falling while skiing due to not being 100% focused. "I can't always wait for the perfect timing and setup. It's time to get in," he said.
Arthur Hayes will raise cash by moving the portion of liquid fiat currency he's willing to risk from money market funds/short-term U.S. Treasury bills into dollar cash, allowing him to quickly deploy funds into his chosen risk assets. He plans to buy Bitcoin and will execute deployments over the coming days. However, he emphasized, "So please don't assume that when this happens, it will have any noticeable impact on the price of Bitcoin."
Additionally, Arthur stated that he believes the current prevailing narratives are fueling a surge of poorly conceived junk projects. If Bitcoin and Ethereum continue to rise, there will surely be a vertical pump in low-quality tokens, driving them into mania over the next few months.
He will exit the market when the TGA (U.S. Treasury General Account balance) reaches zero, decisively selling all positions purchased from now until that point.Original link
