CEO and co-founder of crypto platform BitMEX Arthur Hayes claimed on the podcast Unchained that Bitcoin has the potential to become a new asset class in the next ten years
Arthur Hayes reported daily trade volumes, spoke with host Laura Shin and a group of other industry leaders at CME’s Global Financial Leadership Conference last month.
When asked if cryptocurrency represents a new asset class, Hayes expressed skepticism, saying:
Crypto is sort of a blend”but that it is “still extremely small
Could it become a bonafidе 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.
Hayes, however, added optimistically that crypto “Could be a new way of raising capital and sending value around the world.”
The CEO also weighed in on the future of trading, saying 24/7 trading as with crypto will replace conventional hours:
I think 24/7 trading of all different types of assets is somethingthat’s going to be the future, and that will bleed into other markets we’re allfamiliar with, you know, FX, fixed income and equities.
Remember earlier in November, Hayes predicted that this year’s crypto winter could last as long as 18 months, citing “previous experience” of a “nuclear bear market” in 2014 and 2015.
At press time, Bitcoin is trading at $3,755, up almost 6 percent on the day, seeing a slight rebound after dropping to as low as $3,172 earlier this week.
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