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Bitmex CEO: Something is going on in Crypto, Prepares to launch most Liquid Product for Crypto

Bitmex CEO and co-founder Arthur Hayes has dismissed Nouriel Roubini as a hater and stressed that there is a lot to be positive about when it comes to the crypto markets.

Hayes was speaking on Bloomberg day break Asia, on the sidelines of the Asia Blockchain summit in Taipei, where he and Roubini are expected to have a clash of ideas and opinions. He started his interview by dismissing the notion by some, that Bitmex volumes were fake; stating that his firm had a trading record of over a trillion dollars over the past year.

According to Hayes, those high volumes speak to the fact that there is more to crypto than a lot of these cynics such as Nouriel understand; and the price action is evidence of it. He also spoke of the crypto landscape over the past 18 months, mentioning BTCs fall from 2017 highs of $20,000 down to lows of $3,000 seen early this year. He also noted that it took about two and a half months for BTC prices to rally from $3,000 to $10,000; which according to him is a high watermark for a lot of investors.

When queried about the possible reasons for the latest crypto surge that has since eased minutely, Hayes said that market sentiment was back and also gave some of the credit to Facebook’s Libra; where he pointed out that a lot of people believe it will bring a few million people into the digital currency ecosystem.

                                       Why invest in Bitcoin?

Hayes believes it’s a call option, either BTC will be worth a lot in a decade, or it will be worth nothing. He went on further to make a case for BTC when his interviewer asked why anyone would prefer to invest in BTC which is only a decade old, compared to Gold which is has “been around for thousands of years”

Hayes pointed to Gold’s bulky nature as a barrier in this day and age. “If you want to transport a Million US dollars’ worth of Gold, that’s very heavy” he said

“With a wallet or a hardware wallet, you could essentially with a USB drive transport a vast amount of wealth anywhere you go, and if we are really moving into a digital economy then the way we store wealth or the hard asset if you will, which is pricing wealth must change, and I think Bitcoin could be that asset”

                                 The most liquid product for crypto!

Hayes went on to promote what he called the most “Liquid product for crypto” created by Bitmex. This product according to Hayes is a leveraged derivative that doesn’t have any expiry date and mimics market trading; trading about $5 to $10 Billion dollars per day. He also spoke of the Bitmex Altcoin products such as Ethereum, EOS and, Tron that can be traded on the platform on leverage as well. He also announced that in the next few weeks Bitmex will launch the first Bitcoin zero coupon Bond with a few counterparties that will allow people to earn by investing and loaning Bitcoin to some of the most stable companies in the crypto space.

When queried about some of the risks, a platform such as Bitmex faces in its operations; he offered up some familiar answers which included risks of hacks. He also mentioned that they caution traders to only have crypto assets on an exchange that they are actually trading with. He ended the interview with a bit of a bombshell when asked his thoughts on Facebooks’s Libra; to which he said that he expected it to destroy commercial and central banks!

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