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Bitcoin (BTC) has the potential to become a new asset class in the next ten years, CEO of the BitMEX encrypted derivatives platform claimed on the Unchained podcast on December 16th.
Arthur Hayes, CEO and co-founder of BitMEX, the largest cryptographic exchange with reported daily trading volumes, spoke to host Laura Shin and a group of other industry leaders at CME's Global Financial Leadership Conference the month last.
When asked whether cryptocurrency represents a new class of assets, Hayes expressed skepticism, saying that crypto "is a kind of mixture" but that it is "still extremely small":
"Could it become a real asset class in the next ten years? It may be, however, the jury does not know if Bitcoin is actually safe in the long run […] It is still an experiment. "
Hayes, however, has optimistically added that "crypto" could be a new way to raise capital and send value all over the world ".
The CEO of BitMEX also weighed on the future of trading, saying that 24/7 trading, as with cryptography, will replace conventional hours:
"I think that the 24-hour trading of all different asset types is something that will be the future, and that will spill into other markets with which we are all aware, you know, FX, fixed income and equities."
At the beginning of November, Hayes predicted that this year's encrypted winter could last up to 18 months, citing the "previous experience" of a "nuclear bear market" in 2014 and 2015.
At press time, Bitcoin traded at $ 3,755, nearly 6% of the day, with a slight rebound after falling to $ 3,172 at the start of this week.
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