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Arthur Hayes, founder of BitMEX and CIO of Maelstrom, asserts that Donald Trump is not as pro-Bitcoin 
$104,031 as many crypto investors believe. He is closely observing the consequences of the upcoming elections on the cryptocurrency market.
Impact of the U.S. Election on Cryptocurrencies
Hayes argues that the outcome of the U.S. elections will not significantly impact the crypto space, regardless of which candidate wins. He suggests that whether Trump or Kamala Harris takes office, similar economic measures such as money printing and increasing debt will likely occur, which could positively affect cryptocurrencies.
“Crypto investors think Trump is Bitcoin-friendly, but that’s incorrect. He didn’t develop positive policies for crypto during his four years in office.” – Arthur Hayes
Hayes reiterates that should Trump be elected, there will be no favorable actions taken for cryptocurrencies.
China’s Role and Cryptocurrencies
In his assessment of the future of cryptocurrencies, Hayes emphasizes the significance of China’s economic factors. He claims that China’s economic stimulus packages will support Bitcoin’s growth. With China reducing interest rates and increasing liquidity to combat its current economic stagnation, this situation creates a new support channel for Bitcoin.
“China’s economic stimulus will create new support channels for Bitcoin and other cryptocurrencies.” – Arthur Hayes
Hayes expresses that increasing money supply will lead to inflation, making Bitcoin a more attractive hedge against inflation. He highlights that these changes in China’s monetary policy will enhance Bitcoin’s global appeal.
He describes the recent Federal Reserve interest rate cuts as a “calm before the storm,” predicting that Bitcoin will perform well during turbulent times, contrary to general belief.
In conclusion, the economic policies of both the U.S. and China may provide significant support for cryptocurrencies like Bitcoin. Hayes believes that the combination of these factors will have positive impacts on the future of Bitcoin.
