February 4, 2023

BitMEX founder Arthur Hayes unveils his altcoin portfolio as he predicts that 2023 could be a great year for the crypto industry.

In a new article, the cryptocapitalist says he expects the Federal Reserve to start printing money again next year, which could serve as a catalyst for a massive rally for Bitcoin (BTC) and other risk assets.

“I don’t know if $15,900 was the low of this cycle. But I am confident that it was due to the forced sale being halted due to a credit contraction. I don’t know when or if the US Federal Reserve will start printing money again.

However, I think the US Treasury bond market will become dysfunctional at some point in 2023 as a result of the Fed’s tightening monetary policy. At that point, I expect the Fed to turn on the printer bank, and then boom shaka-laka – Bitcoin and all other high-risk assets will rise higher.

Hayes notes that while he waits for the Fed to start printing money again, he plans to earn returns by buying US Treasury bills.

“Everything is cyclical. What goes down, goes up again. I like to earn close to 5% by investing in US Treasury bills with maturities shorter than 12 months. And that’s why I want to earn a yield while I wait for the crypto bull market to return.

The venture capitalist goes on to reveal some of his altcoins holdings, describing some of them, such as derivatives exchange GMX and NFT marketplace LooksRare (LOOKS), as “super powerful.”

According to Hayes, he is particularly interested in digital assets that have a correlated beta with BTC and Ethereum (ETH), meaning that if one or both of the two largest digital assets saw a price increase, altcoins would at least rise as well. increase that amount.

“My ideal crypto asset should have beta for Bitcoin, and to a lesser extent Ether. These are crypto’s reserve assets. If they increase, my wealth should increase by at least the same amount – this is called crypto beta.

This asset should generate income that I can claim as a token holder. And this return must be much greater than the 5% I can earn by buying six-month or 12-month Treasury bills. I have some super strong assets like GMX and LOOKS in my portfolio.

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