Arthur Hayes, CEO of BitMEX, appeared on CNBC and predicted that the world's leading cryptocurrency will reach a valuation of $50,000 by end-of-year.
A Wharton School of Business graduate, Arthur Hayes has built a reputation on his ability to trade traditional financial instruments.
Hayes moved to Hong Kong and became a top trader at Citigroup and Deutsche Bank - establishing himself as an expert market maker and trader of Exchange Traded Funds and other financial derivatives.
Making the transition from traditional to digital assets, Hayes is now the acting CEO of BitMEX, the world's largest bitcoin trading platform.
Based out of Hong Kong, BitMEX offers 100x leveraged trading of Bitcoin, Bitcoin futures, and swaps, along with altcoin futures for Ethereum, Litecoin, Bitcoin Cash, and Ripple.
The exchange is the world's largest by trading volume and currently holds the record for most bitcoin traded in a single day.
Hayes showed up in an orange Lamborghini Huracan to the Consensus 2018 summit in New York City on Monday.
In a recent interview on CNBC's "Fast Money," Melissa Lee asked Hayes why he chose to base BitMEX out of Hong Kong rather than the U.S. or other western countries.
"Asia dominates cryptos because they're very used to trading digital assets. South Korea has been trading digital goods related to gaming for two decades. When you move to a purely money based digital currency they understand that culturally, so they get on board quickly."
An Optimistic Price Prediction: Bitcoin at $50,000 USD. On CNBC's "Fast Money," Hayes lightheartedly conveyed his optimism for the future value of bitcoin - making obvious that his prediction was not a resolved commitment.
BitMEX CEO, Arthur Hayes: $50,000 Bitcoin Price Target by End-of-Year
Published on May 15, 2018
by Cryptoslate | Published on Coinage
Mentioned in this article
Bear Market Forces Bitmain to Close Blockchain Development Center in Israel
The downturn of the crypto market has forced Beijing-based Bitcoin mining giant Bitmain to close its blockchain development center in Israel and lay off all of its employees, Israeli business news outlet Globes reported on December 10, 2018.Shutting Down All Operations in Israel.
But It Doesn't Have to Signify Nothing
If you're going to sell, you need to slink quietly out the back door.
Major Stablecoin Basis to Close, Return Funds to Investors: Sources
Major United States-based stablecoin project Basis will shut down operations and return most of its funds to investors, crypto news outlet The Block reports today, Dec. 12.Citing "Multiple people with direct knowledge of the situation," the reports states that the algorithmic stablecoin project is set to return the majority of the $133 million in funding it raised in a private placement in April.
Binance Launches Blockchain DEX to Compete with Ethereum, EOS, TRON
Binance, the world's largest cryptocurrency exchange by trading volume, is launching its own blockchain that will support the forthcoming decentralized exchange Binance DEX and host its native Binance Coin, the company announced in a Medium post on December 5, 2018.