BitMEX founder Arthur Hayes announced his altcoin portfolio while predicting that 2023 could be a great year for the crypto money industry.
History of the Bitcoin Rally
In a new article, the cryptocurrency capitalist said that he expects the Federal Reserve to start printing money again next year, suggesting that in this case it could serve as a catalyst for a major rally on behalf of Bitcoin (BTC) and other cryptocurrencies. The expert gave the following statements in his name explanations:
I don’t know if $15,900 is the bottom of this cycle. I don’t know when or if the US Federal Reserve will start printing money again. However, I believe that the US Treasury market will become dysfunctional at some point in 2023 due to the Fed’s tightening monetary policies. At this point, I think they will rise much higher as an opportunity for Bitcoin and all other risky assets.
Arthur Hayes noted that while he expects the Fed to start printing money again, he plans to generate returns by buying US Treasury bonds. The expert name said the following about the issue:
Everything is cyclical. Whatever is falling, will rise again. I like to earn close to 5% by investing in US Treasury bonds with a maturity of less than 12 months. Therefore, I want to earn returns while waiting for the cryptocurrency bull market to return.
Super Strong Token
The venture capitalist went on to describe some of his altcoin holdings, describing some, such as derivatives exchange GMX and NFT Sunday place LookRare (LOOKS), as ‘super strong’. According to Arthur Hayes, stressing that he is mostly interested in cryptocurrencies that have a beta associated with BTC and Ethereum (ETH), he said the following:
My ideal cryptocurrencies are those that have beta associated with Bitcoin and Ethereum. These are the reserve assets of crypto currencies. If they are rising, the token must be increased by at least the same amount. This is called crypto beta. This asset should provide an income that I can claim as a token holder. And that return has to be much greater than the 5% I could earn by buying a six- or 12-month treasury bond. I have several super strong assets in my portfolio, such as GMX and LOOKS.
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