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Bitmex Co-Founder Predicts Gold Rising To $10K, Bitcoin Marching To $1 Million

Co-Founder of Bitmex Predicts Gold Rising to $10K, Bitcoin Marching to $1 Million

On March 16, Arthur Hayes, the co-founder of the cryptocurrency exchange Bitmex, published a blog post called “Energy Cancelled,” which describes the economics behind the ongoing Russia-Ukraine war. Hayes explains in his 26-minute long opinion piece that historians may point to February 26, 2022, as the time in history when the “Petro Dollar / Euro Dollar monetary system” ended.

Speculation Concerning an Independent International Monetary and Financial System Free From the Petro Dollar and Euro Dollar Monetary System

There’s been a lot of economic calamity since the start of the Russia-Ukraine conflict, as financial conditions worldwide have tightened and Russia has been sanctioned by a large swathe of countries. Analysts and economists believe the war and sanctions could have negative effects on the global economy and on March 5, the International Monetary Fund (IMF) warned the “economic consequences are already very serious.” A few days after the IMF warning, U.S. lawmakers introduced a bill that sanctions Russia’s gold reserves.

Reports indicated on March 13, that the Russian Federation finance minister, Anton Siluanov, explained that half of the country’s gold and foreign reserves were frozen. This is approximately half of the reserves we had. We have a total amount of reserves of about $640 bln,” Siluanov said. “Currently, we cannot use about $300 billion of these reserves,” the Russian finance minister added.

Siluanov’s statements led to speculation about an independent international financial and monetary system between China and the Eurasian Economic Union. There is also a lot of confusion and vagueness regarding the Russian’s frozen Gold. The journalist Pepe Escobar highlights in his report called “Say hello to Russian gold and Chinese petroyuan,” that there is a mystery to be solved. Escobar asks, “Where is the frozen Russian gold?”

Bitmex Founder Arthur Hayes Outlines The Consequences of Canceling the World’s Largest Energy Exporter

Meanwhile, the co-founder of the cryptocurrency exchange Bitmex, Arthur Hayes, published a blog post on March 16, that touches upon canceling the world’s largest energy exporter and the end of the “Petro Dollar / Euro Dollar monetary system”

What happens when you “cancel” the world’s largest energy producer … ? “Energy Cancelled” is an essay on why the post-1971 Petro / Eurodollar regime died on 26 February 2022. Are you ready for $1 million #Bitcoin and $10,000 #Gold? https://t.co/EttRAmPPS9 pic.twitter.com/LOSqaseq3N

— Arthur Hayes (@CryptoHayes) March 16, 2022

The blog post by Hayes is very long but full of sourced data. Hayes stresses that historians will likely call February 26, 2022, as the end of the monetary system controlled by the “Petro Dollar” and “Euro Dollar.”

Hayes also believes that a financial crisis is coming and it will affect every sector of the global financial system. “I am 100% certain that there will be a financial crisis of epic proportions predicated on losses faced by commodity producers and traders who touch every aspect of the globalised financial system,” the Bitmex co-founder’s blog post explains. Hayes also added

You cannot remove the world’s largest energy producer — and the collateral these commodity resources represent — from the financial system without serious unimagined and unintended consequences.

Vulnerabilities Tethered to Centralized, Permissioned Digital Networks

This blog post was written by Bitmex’s co-founder and explains how the U.S. became a dominant force within finance. America used to be the dominant country in manufacturing and industrial industries. But Hayes claims that America now exports finance, not goods, all over the globe on a macro-scale .”

Hayes also discussed fiat currencies and the ways humans have created methods to send “value electronically over centralised permised digital networks.” However, Hayes maintains that SWIFT is controlled “effectively by the U.S.A and EU .”

Hayes explained that there are weaknesses when a ruling country “decides to stop access to the network for any participants.” The Bitmex founder added:

Remember this, you own nothing, you merely ‘rent’ your net worth both as an individual or sovereign from the entity that operates the centralised, permissioned fiat digital monetary network.

Hayes Believes if Gold Marches Its Way Above $10K, Bitcoin Will March Its Way to a Million

Further into the blog post, Hayes states that he believes gold “will phase shift” to a much higher price than it is today. He believes competition and demand “will push the marginal last price well north of $10,000, and we could see stupendous prices for gold that seems unfathomable.”

Gold jumping to $10K per ounce or higher will “psychologically shock” the world’s asset markets, Hayes notes. Hayes wholeheartedly believes that most hard assets that people use to hedge will skyrocket in value and this includes bitcoin (BTC).

“As gold marches its way above $10,000, bitcoin will march its way to $1,000,000. Hayes says that the bear market in fiat currencies would trigger the greatest wealth transfer the world has ever witnessed. Hayes also stated that bitcoin and gold are both forms of hard money assets. Hayes wrote that both are hard money. One is analog (gold), the other is digital (bitcoin).

At the end of Bitmex’s blog post, the executive discusses the pros and cons of storing wealth in precious metal and how cumbersome it can be to store. Hayes states that most readers don’t have a vault to keep their yellow pet rocks in. Instead, they would prefer a more portable hard store of wealth.

Hayes concludes his blog post by stating that “you can’t cancel the largest energy producer out of a monetary systems without massive repercussions.” The economy will then “present a position where hard money instruments dominate all of global trade .”

What do you think about the recent blog post published by the Bitmex founder Arthur Hayes? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Bitbot’s presale frenzy grows as $1.1M is raised: Can $BITBOT claim a 100x gain?

Bitbot has generated FOMO due to its self-custodial features. The project runs a $100,000 airdrop with $1,000 rewards. $BITBOT carries a 100x potential amid presale frenzy and unique strengths. Crypto trading on Telegram bots gathered phase in 2023. This came after the launch of popular tokens such as Banana Gun and Unibot. Both saw unprecedented…


bitbot crypto trading bot website homepage
  • Bitbot has generated FOMO due to its self-custodial features.
  • The project runs a $100,000 airdrop with $1,000 rewards.
  • $BITBOT carries a 100x potential amid presale frenzy and unique strengths.

Crypto trading on Telegram bots gathered phase in 2023. This came after the launch of popular tokens such as Banana Gun and Unibot. Both saw unprecedented gains, cementing the status of Telegram bots as an unstoppable crypto phenomenon. Bitbot launches when this frenzy is still alive while guaranteeing added security advantages. This has created a frenzy for the token, with the presale raising more than $1.16 million through stage 6. Consequently, Bitbot has been labelled a 100x token amid its self-custodial features. Let’s investigate more about this token.

Bitbot generates FOMO: What is its unique value proposition?

The key to Bitbot’s popularity is intense speculation. This is the first Telegram trading bot project offering self-custodial features. But what does this mean?

Trading on Telegram trading bots has been beset with controversy. The exploits of leading projects such as Unibot and Banana Gun showed how less protected investors are. This has been caused by the fact that these projects are custodial. They hold users’ private keys and assets, exposing them to potential losses if their accounts are compromised.

With self-custodial features, Bitbot allows users complete control over their assets. Users control their private keys, meaning no one can steal their assets if the platforms are exploited. This is an advantage to users seeking greater control and peace of mind when trading on Telegram trading bots. 

Owing to the self-custodial features, Bitbot has generated a frenzy that the token could explode when listed. Similar price trends have been recorded in other Telegram trading bots launched earlier. As such, Bitbot’s superior strengths could fuel higher price movements and return more to investors.

In addition to being self-custodial, the project is attractive with its enhanced security mechanisms. The wallet is secured by KnightSafe security protocols for institutional-grade reinforcement. There are other safety enhancements, such as anti-rug features. 

The all-around protections have created an expectation that $BITBOT is a huge potential token. The frenzy is underlined by the rapid presale and token predictions, which are as high as 100x. 

Bitbot: Profitable token with up to $100K airdrops and 50% revenue shares

The number of followers on Bitbot’s socials has grown rapidly, thanks to profitable offers. An example is Twitter, which has over 114,000 followers. The attraction has been due to the profitable opportunities posted on the platforms. The notable one is the $100,000 airdrop that has attracted fans. 

The competition is open to all fans globally. Winners stand a chance to walk away with $1,000 worth of Bitbot tokens from a $100,000 prize pool.

The prelaunch offer is ongoing, with users needing to act on Bitbot to win odds. One just needs to participate in Bitbot, share about the project, subscribe to its mailing list, and more. Winners will be rewarded right before the project kicks off. 

Bitbot is also a source of long-term passive income generation. Token holders get a share of 50% of transaction fee revenue generated from the platform. Aside from enjoying seamless trading through an app, one grows their investment over time. The unique advantage over rivals makes Bitbot a very attractive trading platform. This generates value for the token, unlocking its future potential.

Can $BITBOT rise by 100x?

Telegram trading bots represent the future of trading, and statistics back this up. The sector has witnessed over $13.6 million in cumulative trading volumes. This is an advantage to the Bitbot token, debuting when a market frenzy unfolds. As such, the debut could be met with wild price movements.

Whether $BITBOT can rise 100x is speculative. However, rival tokens, which carry lesser superior features, have risen by approximately similar margins. As such, $BITBOT carries the potential to claim a 100x gain. A robust presale and speculation cement the token’s status as a potential big gainer.

To purchase $BITBOT while on presale, investors can visit the project’s website page.


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