The average person’s wealth will be 'completely destroyed by inflation,' says Arthur Hayes
Investing in assets "outside of the traditional financial system” is the only way to preserve one’s wealth, according to the former BitMEX CEO. The majority of people will have their wealth progressively eaten away by the devaluation of money, according to Arthur Hayes, the co-founder and former CEO of crypto derivatives exchange BitMEX. According to Hayes, due to the huge amount of public debt accumulated by the world’s largest economies, governments will have no choice but "inflating it away" through money printing. Thus, the only way to escape the progressive destruction of fiat wealth is by acquiring assets outside the traditional financial system, such as crypto, the purchasing power of which doesn’t fall compared with the cost of energy. “My whole goal with all of my investing and is to preserve capital so that I can consume the same amount of energy or whatever energy amount that I would like from now and into the future,” Hayes said in an exclusive interv...
