US Regulatory Crackdown Could Trigger Bitcoin Flight, Founder Says, Shuns Altcoins
BitMEX Founder Arthur Hayes Warns US Rival Could Trigger Capital Flight into Bitcoin, Shuns Altcoins for BTC
In a recent interview, BitMEX founder Arthur Hayes expressed concerns that a US-based rival could trigger a capital flight into Bitcoin, which he believes will continue to outperform other cryptocurrencies.
Hayes' comments come as the cryptocurrency market continues to experience significant volatility, with Bitcoin's price recently surging to new heights. According to Hayes, the rise of a US-based rival could lead to a mass exodus of capital from other cryptocurrencies and into Bitcoin.
"I think if a US-based exchange comes in and does it right, they could trigger a capital flight into Bitcoin," Hayes said. "I think that's what's going to happen. People are going to get scared, and they're going to get out of the altcoins and get into Bitcoin."
Hayes' comments may come as a surprise to some, given that he has previously expressed skepticism about the long-term prospects of Bitcoin. However, he believes that the recent surge in the cryptocurrency's price is a sign that it is poised for continued growth.
"I think Bitcoin is going to continue to outperform the altcoins," Hayes said. "I think it's going to continue to be the store of value for people. I think it's going to continue to be the thing that people trust."
Hayes' comments about the potential for a capital flight into Bitcoin are not the only signs that the cryptocurrency is gaining traction. In recent weeks, a number of high-profile investors have publicly expressed their support for Bitcoin, including billionaire investor Paul Tudor Jones.
As the cryptocurrency market continues to experience significant volatility, it remains to be seen whether Hayes' predictions about a capital flight into Bitcoin will come to pass. However, given the cryptocurrency's recent surge in price, it is clear that many investors are increasingly optimistic about its long-term prospects.