Former CEO Says Russia Sanctions Will Push Bitcoin Price Towards $1M - BitcoinEthereumNews.com
Arthur Hayes has written an extended post explaining how the economic sanctions against Russia will result in a new monetary era. This era could see both gold and bitcoin rise in value as investors turn to hard assets. The former Bitmex CEO and 100x co-founder बातचीत की about the recent economic sanctions imposed on Russia. Hayes said that there would be a “financial crisis of epic proportions.” He also said that the freezing of Russian assets marks the end of a monetary era. The post, entitled Energy Canceled, explains how the blacklisting of Russia would have severe ramifications on the global economy. He says that the 1971 petro/eurodollar system died with the confiscation of the Russian Central Banks fiat currency reserves, and claims that a new monetary era is forming. And the successor to that monetary era will love bitcoin, which he believes will reach $1 million. He provides a lengthy explanation of how the system has broken down, talking about the U.S. treasury market, the printing of USD, and much else. Hayes also predicts gold reaching $10,000. Both bitcoin and gold will be the winers in this new era of finance, he argues. Hard assets in general will benefit as the world acclimatizes