Arthur Hayes, the founder of the stock market BitMEX, which is heavily used by traders trading on derivatives, gave a remarkable interview to the crypto press.
Talking about current economic developments and his predictions about the future, the crypto phenomenon stated that people's wealth is melting as a result of the devaluation of money. According to Hayes, governments with high public debt have no choice but to print money so they don't go bankrupt.
The BitMEX founder explained the way out of wealth loss is to "get out of the traditional financial system".
“Cryptocurrencies with limited supply and not tied to a government can protect our wealth.”
The American Government Is Blocking Crypto Because Of This!
Continuing his assertive words, BitMEX founder Arthur Hayes associated the American government's pressure on crypto with the system. According to the crypto phenomenon, the government does not want citizens to step out of the traditional system through digital assets.
"They want our capital to remain within the traditional financial system and melt by 20%, 30% or even 50%. Otherwise, they have no chance to pay the public debt."
According to the official data of December 2022, the public debt of the USA has exceeded 31 trillion dollars. The government's revenue amounted to $4.9 trillion.