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War: Apparently it's good for Bitcoin 😬
As conflict in the Middle East intensifies, BitMEX co-founder Arthur Hayes argues that "hundreds of billions or trillions of newly printed dollars will re-energize the Bitcoin bull market."
Stacy Elliott
October 16, 2024
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Without necessarily saying he hopes conflict in the Middle East does get worse, BitMEX co-founder Arthur Hayes laid out his argument for why the unrest benefits Bitcoin.
In a new blog post, Hayes said the ongoing war will create more demand for the U.S. to sell bombs to Israel, which will force the U.S. to borrow money, and the Fed and U.S. banking system to buy the debt “by printing money and growing their balance sheets.” Therefore, he reasoned, “Bitcoin will rise stupendously in fiat terms as the war intensifies.”
It’s a topic that other analysts have been weighing. Earlier this month, Bitcoin wavered as dozens of missiles from Iran descended on Israel. At the time, one analyst observed that “Bitcoin has evolved from a very risky asset to a safer asset over the past years.”
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