Arthur Hayes, co-founder of BitMEX and a Bitcoin proponent (BTC( ) The bull market in crypto currencies is just getting started.
The new interview Hayes said on Empire that retirement funds will be used to allocate money towards the new spot Bitcoin Exchange-Traded Funds (ETFs).
According to the crypto veteran, retirement money can be viewed as a form of cryptocurrency “sticky flows” It will also be less susceptible to price changes.
“The sales forces is just getting started around the world. [saying] ‘Hey, put your assets here, we’ll protect you against inflation.’ I’m not a fan of that narrative but it works. The ETFs have never sold a product as well. It’s going to be more, regardless of whether they’re using Ethereum, Solana, or any other altcoin.
So we’re just getting started. The fun hasn’t begun yet. Just getting out of the water is a big deal for people. This is the start. It’s exciting, but not yet the end. If you’ve bought some shitcoin and sold it, you may have made 10x the amount you paid for it. This shit is going to be 1000 times more expensive. “We’re still not there.”
Bitcoin was trading at $72,752 as of the time this article is written, and has gained nearly 2% within the past 24 hour. Early Wednesday morning, the top crypto asset by capitalization reached a record high of $73,603.
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Source: dailyhodl.com