Arthur on Bloomberg: Libra will "destroy commercial and central banks"

02 Jul, 2019
by Ryan Boltman
News
Arthur on Bloomberg: Libra will destroy commercial and central banks

BitMex CEO took to Bloomberg at the Asia Blockchain Summit in Taipei to discuss the recent Bitcoin price action, upcoming plans for BitMex and opinions on Facebook's Libra project.

With the Asia Blockchain Summit currently ongoing in Taipei, cryptocurrency influencers have been taking the mic for interviews across the summit. Bloomberg caught up with BitMex CEO Arthur Hayes regarding Bitcoin's recent price moves, how Hayes feels about Noriel Roubini as well as the future of the industry. 


Hayes commented on Nouriel Roubini, who stated that the cryptocurrency market is living on air, with fake volume and no real market action.  Hayes reiterated that BitMex has seen its largest daily trading volume recently, with $60 billion traded, with over $1 trillion traded volume over the past year. 


Hayes also believes the recent price action is due to investors, mostly retailer traders, jumping back into cryptocurrency as “people repair their balance sheets”. Hayes further states that traders are investing in Bitcoin as a call option, stating that “Bitcoin is either going to zero or going to be worth a lot of money in a decade”, the risk-return perspective is something that attracts investors. 


Hayes also announced in the video, that BitMex will be launching the first Bitcoin zero-coupon Bond, allowing people to earn yield on Bitcoin, by investing and loaning Bitcoin to some of the most stable companies in the space. 


Lastly, Hayes comments on Facebook’s Libra when asked what his opinions on the project are, Hayes replied “I think it will destroy commercial and central banks” 

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