Iran war, AI spending could push Bitcoin back to $126K this year: Hayes
Arthur Hayes said military spending and the possible prioritization of infrastructure investment by US allies over trading US Treasurys and equities will lead to further fiat printing and benefit crypto.
The ongoing war in Iran and the race to dominate the AI sector will result in money printing that could benefit the crypto ecosystem and push Bitcoin back to its all-time high this year, according to Arthur Hayes, the chief investment officer of crypto investment fund Maelstrom.
In a Substack post on Tuesday, Hayes said the competition between US and China to win the AI race has led both to pursue looser financial conditions and more fiat printing as the technology “directly relates to national security.”
“The combination of the political will to win the AI race and the financial will to fund the build-out with printed money and bank loans produces the perfect environment for crypto,” he said.