Arthur Hayes: «They, who believe in traditional finances, Inevitably suffer losses " – Bits Media

The former general director of the BitMEX cryptocurrency derivatives exchange, that in the conditions of a “broken banking system” investment in cryptocurrencies will help people protect themselves from the risk of loss of funds.

Arthur Hayes (Arthur Hayes) told, Why counts cryptocurrencies A good alternative to traditional finance.

"I don't care, capitalist you or communist. Everyone got into great debts. Time has passed, when it was possible to benefit from this debt. Therefore, everyone will suffer losses, If he does not have cryptocurrencies or slightly gold in his ownership-some kind of solid asset, located outside the traditional banking system ", - the crypto -investor argues.

According to the former general director of the Bitmex exchange, The collapse of banking institutions harms politics and economics. However, instead of that, to correct the situation, American politicians and regulators perform actions, because of which the amount of public debt only accumulates and grows. Hayes mentioned the collapse of Silicon Valley Bank, which provoked a massive withdrawal of money from banks, As a result, the federal reserve system of the United States (FRS) I had to introduce emergency lending.

The recent collapse of bank giants caused concern among people, that they will not be able to get full access to assets, especially in institutions with a large amount of capital. This increased public interest in alternative finance, including bitcoin. therefore, Unlike large financial institutions, suffering losses, In the cryptocurrency market, the influx of funds increases, Hayes reasoned.

“If we want, so that cryptocurrency becomes another financial system, People must understand, what exactly can replace or improve cryptocurrencies. Unfortunately, Many people have no idea, How the money works, Banking system, How are the asset markets function ", - complains the former head of BitMex.

At the end of last year, Arthur Hais suggested, what in 2023 year cryptocurrency market will be able to recover, Since everything is, Who could go bankrupt, Already crashed. Previously, he spoke out against the digital currencies of central banks, Being confident, that with the help of CBDC government will be able to track user transactions.