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Arthur Hayes, co-founder of the BitMEX crypto exchange, is sounding the alarm regarding what he sees as possible dire outcomes of the pending regulatory approval of the spot Bitcoin exchange-traded fund (ETF). The concern lies in traditional finance asset managers, such as BlackRock, potentially undermining Bitcoin (BTC) by dominating the spot Bitcoin ETF market. In a blog post on Dec. 22, Hayes highlighted the risk of such firms holding “all the Bitcoin in circulation.” If that happens, he says, an over-successful ETF managed by traditional asset managers could ultimately lead to the decline of the cryptocurrency. "Expression" is my last article of 2024. I offer some thoughts on expressions of the #crypto investment theme that will ultimately prove to be worthless. May the Pump be with you!https://t.co/bG4ZnSjYu5 pic.twitter.com/nbru6yZlJD — Arthur Hayes (@CryptoHayes) December 23, 2023 Hayes argues that BlackRock and similar entities “vacuum u...

Bitcoin is witnessing a 16-year high in 30-year U.S. government bond yields, and money printing is all but guaranteed, says the ex-BitMEX CEO. Bitcoin (BTC) flipping full bull could come courtesy of the United States government, a new prediction says. In an X thread on Oct. 4, Arthur Hayes, former CEO of crypto exchange BitMEX, eyed ballooning yields as precursor to a new Bitcoin and crypto bull market . Hayes: Bitcoin bulls should eye U.S. "no way out" moment U.S. treasury yields are “screaming higher,” and with that, Hayes believes that a macroeconomic flashpoint is only a matter of time. The reason comes in the form of a so-called “bear steep ener” — a phenomenon that describes long-term interest rates rising more quickly than short-term ones. “Why do I love these markets right now when yields are screaming higher? Bank models have no concept of a bear steepener occurring,” he argued. Given the current steep rise in the 2s30s curve — the difference between the 30-year an...