### BitMEX Ex-CEO Arthur Hayes Predicts Continued Crypto Bull Market Amid Government Money Printing

Arthur Hayes, former CEO of BitMEX, recently analyzed the impact of government money printing on cryptocurrency markets in his blog post “Left Curve,” projecting a prolonged bull market for digital assets. According to Crypto Briefing on the 24th, Hayes asserted that countries worldwide will continue to print money to manage their debt, leading to devaluation of fiat currencies against Bitcoin and other cryptocurrencies.

Hayes argued, “Bitcoin is the most powerful currency ever created. Converting Bitcoin to fiat currency is a mistake unless one needs to cover living expenses. In its current state, money will be issued without limit.”

### Implications for the 2024 U.S. Presidential Election

Hayes also highlighted the significance of 2024 as an election year in the United States, suggesting that the need for increased money supply will become more pronounced. Citing global macro research firm BCA Research, Hayes mentioned that an incumbent president’s chances of reelection sharply decline if the public perceives the economy to be in a recession during an election year.

“Artificially lowering government bond yields promotes bad investments. Initial projects typically hold value, but as politicians strive to generate growth for reelection, bond yields are suppressed and project quality deteriorates,” Hayes stated.

### Accelerated Money Printing Regardless of Election Outcome

Hayes predicted that, irrespective of the election results, the pace of money printing will accelerate, further devaluing fiat currencies. He advised cryptocurrency traders to prepare for this scenario by buying at low points. Hayes emphasized that the depreciation of fiat money would be a significant catalyst for an intense bull market in cryptocurrencies.

Although Hayes did not update his price targets for Bitcoin, he suggested that the journey from $70,000 to $1 million might be less challenging than previous historical climbs. He acknowledged that the macroeconomic conditions supporting Bitcoin’s rise will become more evident as the sovereign debt bubble begins to burst.

### Cathie Wood of Ark Invest Weighs In

Cathie Wood, CEO of Ark Invest, also recently described cryptocurrencies as a “safe haven” and a “hedge against dreadful fiscal and monetary policies.”