TechFlow reports that Arthur Hayes, co-founder of BitMEX, stated in his newly published blog post "Panda Power" that now is the optimal time to shift capital from government bonds into cryptocurrencies. Given that the U.S. dollar is the world's largest funding currency, if credit prices fall, all fixed-supply assets such as bitcoin and gold will rise in terms of USD fiat value.
An important aspect of this macro bullish thesis is that it does not require Chinese corporations or wealthy individuals to purchase any bitcoin. The fungible nature of global fiat credit will determine that marginal USD flows into hard money assets like bitcoin.
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