Arthur Hayes Believes Bitcoin Could Become World’s Reserve Currency
Arthur Hayes, co-founder of crypto exchange BitMEX, believes that as the US dollar weakens, Bitcoin will solidify its role in the global financial system.
Hayes predicts that over the medium term, BTC could become the world’s reserve currency, as an increasing number of investors view it as a form of capital preservation.
Over the past year, the use of the dollar in the global economy has declined, with countries in Asia and Latin America signing agreements to settle transactions in their respective national currencies.
Hayes anticipates that while the Federal Reserve System and US government will attempt to maintain the dollar’s primary position, they will not be able to prevent its decline.
In response, Bitcoin is becoming not only a store of value, but also a payment instrument.
