Arthur Hayes said money printing could lift crypto prices, while CONNECT Seoul speakers examined Wall Street’s competitive edge onchain.
US policymakers could lift cryptocurrency prices by printing more money to support AI and finance government debt, according to Arthur Hayes, chief investment officer at Maelstrom fund.
AI companies need trillions of dollars to finance data centers even as the prices of their services fall, Hayes said at a fireside chat at CONNECT by Cointelegraph: Seoul Edition, on Tuesday during Korea Blockchain Week.
“They’ve not really given themselves a lot of options other than print money and make it less bad,” he said.
BitMEX co-founder Arthur Hayes speaking at CONNECT by Cointelegraph: Seoul Edition.
Hayes also discussed a possible shift in China from what he called an “austerity lite” policy to substantial monetary stimulus, which he said could revive demand for scarce assets.
Related: AI credit bubble could fuel Bitcoin ‘crack-up boom’ past $1M: Hayes
In Europe, he said he was monitoring financial stress in France, including credit-default swaps tied to BNP Paribas and French government bond spreads.
Cointelegraph’s CONNECT event in Seoul featured panels on topics ranging from traditional finance’s shift onchain to stablecoins and corporate crypto treasuries.
Banks and asset managers bring an existing customer base to blockchain markets, giving them an advantage over companies that must attract investors from scratch, according to Catrina Wang, general partner at Portal Ventures.
“Whoever owns the customer relationship owns the economics,” Wang said, drawing on tech analyst Ben Thompson’s aggregation theory.
Portal Ventures general partner Catrina Wang speaking during “The New Financial Establishment” panel.
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