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"Arthur Hayes is back and he’s not holding back. In this unfiltered conversation, the BitMEX co-founder breaks down why he believes Bitcoin’s 4-year cycle is over, why $BTC could still hit $999,999, and how global money printing could drive the next crypto supercycle.
From dumping Hyperliquid (HYPE) and his thoughts on Ethena (ENA), to bold predictions on Zcash (ZEC) hitting $10K, Hayes shares his raw takes on markets, altcoins, and the future of decentralized trading. This is Arthur Hayes at his most candid — don’t miss it."
~ Coin Bureau
The podcast features an interview with Arthur Hayes, co-founder of BitMEX and CEO of Maelstrom, focusing on the future of the crypto market and macro trends. Hayes argues that the four-year Bitcoin cycle is over, primarily driven by global liquidity and fiat currency printing rather than the Bitcoin halving event itself. He believes the current cycle will extend into the 2027-2028 timeframe, driven by global government spending on re-industrialization and defence, which will force central banks to print more money. He maintains his prediction of Bitcoin reaching $999,999 by 2027, expecting an eventual "blowoff top." He also discusses the divergence between Bitcoin and gold, stating that gold's recent price action is due to sovereign nations hoarding it in response to the US seizure of Russian assets, viewing gold as a seizure-proof reserve, while Bitcoin remains a credit-driven asset reacting to US money market tightness.
Hayes also delves into altcoin market dynamics and specific assets. He explains his decision to sell his HYPE tokens due to concerns about upcoming token unlocks, which he believes will cause further multiple compression on its future earnings, but says he plans to buy back in the future. He is highly bullish on Ethena's ENA, stating it is the largest position in his fund, and believes it will surpass Circle to become the second-largest stablecoin issuer after Tether. He predicts its price will rise as falling interest rates globally increase the basis yield, making Ethena's USDe more attractive. Regarding Zcash (ZEC), he recently made a big call, saying ZEC could hit $10,000 to $20,000, arguing that recent protocol upgrades have fixed past issues and that privacy coins are a necessary asset in an age of digital surveillance. Finally, he shares his view that in the long term, decentralized perpetual exchanges (Perp DEXs) will surpass centralized exchanges (CEXs) in volume, as they offer a more flexible and ultimately cheaper trading environment for retail investors.
00:00 – Intro
02:01 – Is the 4-Year Bitcoin Cycle Finally Over?
10:43 – Does the Halving Still Impact Bitcoin’s Price?
11:10 – Blow-Off Top or Bitcoin Supercycle Ahead?
11:42 – Will Bitcoin Really Hit $999,999 by 2027?
12:15 – Bitcoin Decoupling from Nasdaq: Becoming Digital Gold?
20:30 – Wen Rari?
21:15 – Will You Buy Back $HYPE After Unlock?
24:05 – Thoughts in any hyperliquid competitors?
31:15 – Takeaways from the Massive Crypto Liquidation Event
34:28 – Buying More $ENA — Still Bullish or Taking Profits?
38:40 –Thoughts on Looping Strategy?
40:16 – Can Zcash ($ZEC) Really Hit $10K?
46:05 – When Will Altcoin Season Start?
51:00 – Family office mainstream what's driving this shifting strategy?
52:55 – The Dumbest Trade That Still Makes you wins?
53:43 – Final Thoughts & Closing Remarks
Source - Coin Bureau YouTube: https://www.youtube.com/watch?v=FiR06Klq7R8
Disclaimer: This video is provided for informational purposes only, and not offered or intended to be used as legal, tax, investment, financial, or any other advice.
