TechFlow reports that on December 18, Arthur Hayes, co-founder of BitMEX, published an article titled "Trump Truth," in which he stated that while he does not believe the U.S. government will purchase bitcoin, this skepticism does not dampen his optimistic outlook on its price potential. Ultimately, gold devaluation creates dollars, and these dollars must find their way into real goods/services and financial assets. Empirically, we know that due to Bitcoin's limited supply and shrinking circulating supply, its fiat price rises faster than the growth rate of global dollar supply.
In short, rapidly and significantly weakening the dollar is the first step for Trump and Bessent to achieve their economic goals—and something they can accomplish overnight without consulting domestic lawmakers or foreign finance ministers. Given that Trump has only one year to demonstrate progress toward some of these objectives to help Republicans maintain control of both the House and Senate, Arthur Hayes broadly forecasts dollar and gold devaluation occurring in the first half of 2025.
Additionally, Arthur Hayes noted at the end of the article that before entering the bull market’s blow-off phase, the cryptocurrency market will suffer a painful crash around the time of Trump's inauguration on January 20, 2025. Maelstrom (Arthur Hayes' fund) will reduce certain positions in advance and hopes to re-enter at lower prices at some point during the first half of 2025. Hayes emphasized that holding bitcoin and cryptocurrencies remains the best way to maximize returns. Therefore, he plans to buy both during downturns and rallies.
