BTC will be a new asset class in 10 years

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Arthur Hayes, the CEO of Bitmex, a major crypto derivatives platform, says that bitcoin (BTC) will be a new asset class in ten years, according to a podcast on unchained. He was talking with Laura Shin and a group of other industry leaders at CME’s Global Financial Leadership Conference last month.

Hayes said he was not convinced that cryptocurrencies were yet at the stage of being a new asset class, claiming they were a “kind of blend” and “still extremely small.” He said, “Could it become a bona fidе asset class in the next ten years? Maybe. Still, jury’s out on whether or not Bitcoin is actually secure in the long run […] It’s still an experiment.” However, he did sound optimistic when he added that crypto “could be a new way of raising capital and sending value around the world.”

The Bitmex CEO also suggested that trading will change with 24/7 trading becoming the norm: “I think 24/7 trading of all different types of assets is something that’s going to be the future, and that will bleed into other markets we’re all familiar with, you know, FX, fixed income and equities.”

Hayes also suggested that what everyone is calling this year’s “crypto winter” could last as long as 18 months, but pointed out that the market had gone through the same situation in 2014 and 2015, and emerged from it. Significantly, at the time of writing, all the major cryptocurrencies have gone green, with BCH showing an increase of 34% and bitcoin up almost 9% on the day and ETH up 11%.

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