PANews reported on October 25 that Arthur Hayes, former co-founder of BitMEX, said in a blog post that the US policy choices in the Ukraine crisis and the Israeli-Palestinian conflict may further escalate tensions, leading to a massive increase in US military spending, which in turn will push up inflation expectations and Treasury yields. In this environment, investors will reduce their holdings of US debt and increase their holdings of gold and Bitcoin as safe-haven assets. Hayes believes this may lead to a new round of cryptocurrency bull market.
