Bitmex's Arthur Hayes: Crypto could be a new asset class in the long run

19 Dec, 2018 | Updated: 19 Dec, 2018
by Fifi Arisandi
Bitmex's Arthur Hayes: Crypto could be a new asset class in the long run

Bitmex CEO, Arthur Hayes expressed his opinion about the prospect of cryptocurrency to become new asset class.

In an interview with Laura Shin on CME’s Global Financial Leadership Conference, Arthur Hayes gave his opinion regarding the future prospect of cryptocurrency.

On the question whether cryptocurrency represents a new asset class, he showed a bit of skepticism, saying that it is still “extremely small” and that it’s “sort of a blend”.

“Could it become a bona fidе asset class in the next ten years? Maybe. Still, jury’s out on whether or not Bitcoin is actually secure in the long run [...] It’s still an experiment,” he said.

That said, Hayes is quite optimistic about cryptocurrency being a new way of raising capital and sending value around the world, as reported by Cointelegraph.

Regarding the future of trading, Bitmex’s CEO commented, “I think 24/7 trading of all different types of assets is something that’s going to be the future, and that will bleed into other markets we’re all familiar with, you know, FX, fixed income and equities.”

Earlier last month, Hayes also made a prediction to crypto price, on which he said that Bitcoin will go down to between $2,000 to $3,000. According to him, Bitcoin’s less volatility in the recent months is the reason to his bearish prediction.

“Contrary to popular belief, Bitcoin requires volatility if it is ever to gain mainstream adoption,” he said.

His prediction seems to be slightly inaccurate, at least for now, with Bitcoin's lowest point was around $3,200, which then followed by a significant rebound to over $3,700. As of writing time, Bitcoin has gained 6% in the last 24 hours and is currently valued at $3,765.

Read more: BitMEX CEO Arthur Hayes says BTC could drop to $2,000

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Read more about: Arthur Hayes


Do you agree with Hayes about future's prospect of cryptocurrency?

(7 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage