Bitcoin and cryptocurrency markets have grown tremendously in recent years and are still growing. One of those who think that this growth trend is still in its early stages is Arthur Hayes, co-founder of BitMEX. In his latest interview, Hayes suggested that the bull market for Bitcoin and crypto assets has just begun and will grow further in the future.
In an interview with Empire, Hayes claimed that people will allocate funds through their retirement accounts into newly approved spot Bitcoin exchange-traded funds (ETFs). The crypto expert states that retirement account money represents “sticky flows” that will be more resilient to price declines.
“The worldwide sales force is just starting up and saying, ‘Hey, put your assets here, we’ll protect you against inflation.’ Frankly I have issues with this but that’s the story, it works. This is the best-selling product ever for ETF providers. Whether it’s Ethereum, Solana, or another altcoin, they will do more. So we’re just getting started. We haven’t even gotten to the fun part yet. People are just getting out on the water. It’s fun, but it’s just the beginning. Maybe you made 10x on a sh*tcoin you bought and sold it. Now this is going 1000 times higher. “We’re not even there yet.”
Bitcoin is trading at $71,411 at the time of writing and is down about 1.2% in the last 24 hours. The top-ranked crypto asset by market cap hit an all-time high of $73,750 early Wednesday morning.
You can follow the current price movement here.
