Arthur Hayes: Trump’s customs policy is good for bitcoin

Arthur Hayes, co-founder of the BitMEX crypto exchange and investment director at the Maelstrom venture capital company, said he supports Donald Trump’s customs policy. In his opinion, the new tariffs introduced by the US president will benefit bitcoin BTC $83,286.29 Bitcoin 1.50% Market capitalization $1.65 trillion VOL. 24 hours $2.67 billion , contributing to its growth in the medium term.

Mr. Hayes explained that the new duties will result in the correction of economic imbalances in global markets. At the same time, he noted, the losses will be compensated by the issue of money. This, in turn, will lead to a weakening of the dollar, as foreign investors will sell shares of American technology companies and return capital to their home countries. Hayes believes that such processes will have a positive impact on both bitcoin and gold.

At the same time, he admitted that the market is currently negatively perceiving Trump’s initiative, known as «Liberation Day,» which was announced on April 2. This is due to the introduction of a large-scale package of tariffs, including both reciprocal and basic tariffs.

Hayes also noted an important timeframe for the crypto market — April 15, when the US tax day comes. If bitcoin stays above $ 76,500 by this time, he believes that the main danger to the asset will be overcome. Earlier, he suggested that bitcoin could reach a local bottom at $ 70,000, calling it a common occurrence for the growth phase of a bull cycle.