BitMEX co-founder Arthur Hayes predicts that a change in policy by central banks will drive crypto assets into a new bullish phase.

In a recent essay, Hayes, who now serves as the Chief Investment Officer of the crypto investment fund Maelstrom, highlights that both the Bank of Canada (BOC) and the European Central Bank (ECB) have opted to reduce interest rates.

Hayes believes that the actions taken by Europe and Canada indicate a global shift towards looser monetary policies, which could potentially lead to an increase in risk assets once the US Federal Reserve follows suit.

“The recent central banking actions by the BOC and ECB to cut interest rates will propel crypto out of the summer slumber in the northern hemisphere. This was not the scenario I had envisioned. I had anticipated these developments to occur in August, around the time of the Fed’s Jackson Hole symposium, where sudden policy changes are typically announced leading into autumn. The trend is evident – central banks are beginning to embark on easing cycles.”

Hayes emphasizes that the evolving landscape of monetary policy calls for a strategic shift towards investing in Bitcoin and other cryptocurrencies.

“The macroeconomic environment has shifted from my initial expectations. Consequently, my investment strategy must adapt accordingly. To the projects in the Maelstrom portfolio seeking my advice on launching their tokens sooner or later, my response is, Let’s F***ing Go! As for my surplus liquidity in crypto synthetic-dollar cash, known as Ethena’s USD (USDe), which is generating significant annual yields, it is time to reinvest in high conviction cryptocurrencies. I will disclose my investments once they are made, but it is evident that the crypto bull market is stirring and poised to challenge the policies of extravagant central bankers.”

Hayes urges readers to stay informed by subscribing to receive email alerts and to monitor price action on various platforms such as X, Facebook, and Telegram for the latest updates.

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