Arthur Hayes, co-founder of BitMEX and current Maelstrom CIO, is optimistic about the future of the crypto market. In a recent interview with Kyle Chassé, Hayes shared his belief that the current crypto bull market still has room to grow, driven by global monetary trends that are just beginning.
According to Hayes, governments worldwide are far from done with aggressive monetary expansion. He specifically pointed to U.S. politics, suggesting that President Donald Trump’s second term has not yet fully unleashed the spending programs that could come into play from mid-2026 onwards. Hayes warned that if expectations for money printing become excessive, he may consider taking partial profits. However, for now, he believes that investors are underestimating the potential influx of liquidity into equities and crypto.
Hayes also tied his optimistic outlook to broader geopolitical shifts, noting the erosion of a unipolar world order. During times of instability, policymakers tend to resort to fiscal stimulus and central bank easing to maintain stability in both markets and society. He even hinted at the possibility of strains within Europe, suggesting that a French default could destabilize the euro, leading to increased global money printing.
When it comes to bitcoin, Hayes dismissed concerns that the asset has stalled after reaching a record high of $124,000 in mid-August. He compared bitcoin’s performance to other asset classes, noting that traditional benchmarks appear weak when measured against the cryptocurrency.
Hayes emphasized that bitcoin’s dominance becomes even more apparent when viewed through the lens of currency debasement. He encouraged investors to be patient, highlighting that the real advantage of holding bitcoin lies in its long-term compounding outperformance rather than short-term speculation.
In conclusion, Hayes believes that the current crypto cycle could extend well into 2026, driven by a wave of money creation that is expected to continue throughout the decade. Despite the risks involved in aggressive monetary policies, Hayes remains confident that the crypto market still has significant growth potential ahead.