Arthur Hayes, co-founder of BitMEX and CIO of family office Maelstrom, believes that escalating trade tariffs will accelerate the endgame and lead to a prolonged crypto bull market.
Hayes argues that the global monetary order doesn't work for China and the United States, and the aggressive reimplementation of trade tariffs by the Trump administration will accelerate the change that was already in motion since the 2008 financial crisis.
Hayes predicts that China will respond to the tariff regime by allowing the yuan to depreciate sharply against the US dollar, as it cannot accept the restructuring of China's economic model that the US demands.
Hayes believes that the macro backdrop of deglobalization and the breakdown of prior trade arrangements will be highly inflationary, leading to central banks printing money and providing accommodation, making him bullish on crypto in the medium term.