Arthur Hayes: Bitcoin holders need more patience and don't worry about stocks and gold hitting new highs

Odaily Planet Daily News BitMEX co-founder Arthur Hayes said in an interview with Kyle Chasse that Bitcoin holders need more patience and do not have to worry about stocks and gold hitting new highs, because they questioned why Bitcoin did not break through the previous high and completely deviated from the focus. "If you think you can buy Bitcoin today and exchange Lamborghini tomorrow, you are likely to face a liquidation - this way of thinking is wrong in itself. Unfortunately, you bought Bitcoin half a year ago, but those who hold it for two, three, five or ten years are laughing at the storm, and people need to readjust their cognitive perspective." The gold and S&P 500 index hit record highs of $3,674 and $6,587 respectively this week, while Bitcoin is still below the all-time high of $124,100 set on August 14. Hayes downplays the significance of these highs compared to Bitcoin and refutes questions about when Bitcoin and crypto markets began to attract global M2 capital inflows, believing that the premise of the question itself is flawed, and that Bitcoin is always the best value-preserving asset when considering currency depreciation. Hayes said that while the S&P 500 is up in USD, it has not yet recovered from its 2008 level as measured by gold. The real estate market is far inferior to the past when it was converted into gold. US technology stocks may be one of the few assets that are still performing well in gold. If Bitcoin is converted into other assets, it will be almost impossible to display on the chart - Bitcoin is so good that it is unbelievably good.