BitMEX founder Arthur Hayes has said that heightened geopolitical tensions are speeding up the shift of major capital into Bitcoin.
As investors search for safe havens in times of financial uncertainty, they are turning towards digital currency due to its decentralized nature.
As a result, Hayes forecasts a significant rise in the value of these assets in the near future.
In a recent tweet, Hayes also predicted that 2024 will mark the beginning of a new phase of growth for Bitcoin, eventually leading to a price of $1 million.
He points to the Federal Reserve’s decision not to raise interest rates as one of the main factors driving this rally. Hayes advises investors to exercise caution and not rush into cryptocurrency investments, instead adopting a wait-and-see approach.
He believes that the liquidity of cryptocurrency is improving while the attractiveness of cash is declining.
