Arthur Hayes: 2024 Election Will Have Little Impact on Crypto Markets

• Arthur Hayes predicts the U.S. election won’t affect cryptocurrency market shifts.
• Hayes highlights international monetary policies as essential to Bitcoin’s future price movements.
• Hayes warns political promises regarding crypto often serve as election tactics.

BitMEX co-founder thinks digital asset exchanges will not be greatly impacted by the 2024 U.S. presidential election. He argues that both candidates are likely to follow similar economic initiatives, meaning the vote results won’t drive major changes in the economy. Hayes made these comments during a recent appearance on the Unchained podcast, where he discussed the future of crypto.

Bitcoin’s Liquidity and Risky Securities

Hayes sees the coin as a reliable purchase during periods of economic volatility. He pointed out that Bitcoin’s liquidity is especially valuable when investors look for safe options. Additionally, Hayes believes that after the election, speculative currencies such as Ethereum, Solana, and memecoins may see increased interest. This would happen as capital moves toward these assets, responding to changes in the broader market.

He also noted that major global economies like the U.S., European Union, Japan, and China typically increase the money supply to address monetary issues. This often leads to investments in assets that protect against inflation, like Bitcoin and gold. Given these trends, Hayes recommends a long-term strategy of holding BTC and similar securities.

Doubts About Political Support for Crypto

Hayes expressed skepticism about the idea that any political leader could be truly pro-Bitcoin. He pointed to Donald Trump’s presidency as an example. Despite his public support for Bitcoin, Trump did little to advance crypto policies. Hayes argued that Trump’s statements on crypto were more about political strategy and gaining voter support than actual commitment to the sector.

Similarly, Hayes questioned Vice President Kamala Harris’s approach to cryptocurrency. He suggested that Harris did not make any serious moves to support the industry. Hayes explained that regulatory bodies, independent from political influence, often pursue their own agendas. This means political promises about crypto may be more about securing votes than about enacting real change.

Global Monetary Policies and the Future of Bitcoin

According to Hayes, the real drivers of BTCs’ destiny are global monetary policies, not election results. He emphasized that the future of the token will depend on how central banks around the world, particularly the Federal Reserve, handle money printing. He believes that focusing on election outcomes is unreliable and doesn’t offer substantial returns due to immediate unpredictability. He stressed that investors should instead focus on the broader economic landscape and how monetary policies in major economies will influence Bitcoin and other assets.