Arthur Hayes, the co-founder of BitMEX, is reportedly steering his investment firm, Maelstrom, towards altcoin investments. This strategic shift comes amidst changing global economic conditions, particularly in light of recent policy adjustments by the Bank of Japan, as noted by sources on December 19.
This new focus on altcoins marks a significant departure from Maelstrom”s previous emphasis on Bitcoin and Ethereum. Observers are keenly watching how this shift may influence the broader cryptocurrency market, especially regarding its potential effects on Bitcoin”s valuation. Despite the absence of definitive confirmations about these investments, the prevailing sentiment reflects the adaptability required in the current economic climate.
Hayes has previously asserted that vast monetary expansion could lead to substantial increases in cryptocurrency valuations. He predicts that Bitcoin could soar to $250,000 by December and even reach $1 million by 2028, driven by persistent money printing and the impact of negative real yields on the market.
At present, Bitcoin is trading at $88,339.92, boasting a market capitalization of $1.76 trillion and holding a market dominance of 59.04%. However, recent trading volumes have dipped by 11.47%, as reported by CoinMarketCap. Additionally, a 60-day price trend indicates a decline of 20.33%, underscoring the fluctuations resulting from ongoing economic shifts.
The Coincu research team suggests that the current economic landscape may accelerate the adoption of altcoins, aligning with Hayes” outlook on inflation-driven price escalations. Market participants remain attentive to how these macroeconomic factors will unfold and potentially reshape the future of both Bitcoin and altcoins in the coming years.
