BitMEX Co-Founder Arthur Hayes Says Bitcoin is Rallying on "Fears of Global Wartime Inflation"

Arthur Hayes, co-founder of the crypto derivatives exchange BitMEX, believes that the recent growth of the crypto market is not only due to the anticipation of Bitcoin (BTC) ETF. In the Tuesday essay entitled "The Periphery", andquot; Hayes attributed the rise of the crypto market to the costs of reckless US foreign policy, particularly military actions against Israel and #039 Hamas. Hayes emphasized US President Joe Biden's unwavering commitment to supporting Israel and the #039 war effort, noting that this, along with the growing military budget and increased government borrowing, has raised concerns about global wartime inflation. andquot;Added to the Ukraine tab, the US military budget will really explode - especially if Hamas allies like Iran respond by joining the fray with their own resources,andquot; crypto veteran wrote.