What to Know:

• In an interview with Kyle Chassé, Arthur Hayes stated he anticipates that persistent monetary expansion akin to Trump-era policies could prolong the crypto bull market into 2026.
• He claimed bitcoin significantly outshines assets such as stocks, real estate, and gold when accounting for currency devaluation.
• Hayes advised that short-term impatience is misplaced, promoting the idea that bitcoin should be assessed over extended periods.

Arthur Hayes is confident that the ongoing crypto bull market has much further to go, backed by global financial trends he views as just beginning. In a recent interview with Kyle Chassé, a seasoned bitcoin and Web3 entrepreneur, the BitMEX co-founder and current Maelstrom CIO expressed that governments globally are not finished with substantial monetary growth.

He specifically highlighted U.S. political dynamics, pointing out that President Donald Trump’s anticipated second term is yet to fully unleash the spending initiatives that may materialize from mid-2026 onward. While Hayes indicated that if the expectations for monetary expansion escalate excessively, he might consider selling some holdings, at present, he believes that investors are misjudging the potential liquidity influx into both equities and cryptocurrency.

Hayes also linked his predictions to wider geopolitical changes, noting the decline of a unipolar world order. He posits that during times of uncertainty, policymakers often resort to fiscal stimulus and central bank easing to maintain stability among citizens and markets. He even touched on potential tensions within Europe, hinting that a French default could disrupt the euro, further accelerating global money printing.

As for bitcoin, Hayes countered concerns regarding stagnation after hitting an all-time high of $124,000 in mid-August. He pointed out that, although U.S. stocks might perform well in nominal terms, they have not fully rebounded against gold since the financial crisis of 2008. Additionally, he stressed that when compared to bitcoin, traditional benchmarks appear weak, emphasizing that bitcoin’s dominance is most apparent when assessing assets through the lens of currency depreciation.

Finally, for those anxious about bitcoin’s lack of new records, Hayes suggested that the expectations were misaligned. He highlighted that both investors in traditional markets and cryptocurrency share the belief that central banks will print money during periods of low growth. In his view, traditional financial actors express this by purchasing bonds with leverage, whereas crypto investors opt for bitcoin as their preferred option.

In closing, Hayes urged the importance of patience, arguing that the true advantage of holding bitcoin arises from years of compounding outperformance rather than short-lived speculation. He believes that coupled with a looming wave of money creation, the current cryptocurrency cycle could extend well into 2026.