Arthur Hayes: Western sanctions on Russia’s USD reserves to boost gold and Bitcoin

Hayes explains that the recent sanctions on Russia make countries aware that it is better to rely on Gold and Bitcoin as a store of value instead of having reserves in the USD.
Bitcoin will gain an edge over Gold with time due to portability, easy storage, and easy accessibility.

The global macroeconomic conditions and geopolitical uncertainty have forced financial experts into predictions on what’s coming next. BitMEX CEO Arthur Hayes has recently penned a detail articled explaining how the dynamics of global finance and monetary systems are changing.
Hayes explains the role of limited assets like Bitcoin and Gold during these crucial moments. Following Russia’s invasion of Ukraine, the West has put heavy sanctions on Russia, cutting it off from the global payments and settlement system SWIFT. Furthermore, isolating one of the world’s largest energy producers could have far-reaching consequences on global finance.
Hayes thus predicts the end of the SWIFT system used for econo

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