BitMEX founder Arthur Hayes predicts end of dollar domination and Bitcoin to $1 million

Former BitMex CEO Arthur Hayes successful a agelong op-ed published connected his Medium leafage titled “Energy Cancelled,” explained however the warfare successful Ukraine and resulting sanctions could beryllium the extremity of the Eurodollar / Petrodollar monetary system.

Russia sanctions could spell extremity of dollar domination

According to Hayes, the authorisation of the world’s largest vigor producer, successful the agelong run, volition impact the issuers of these sanctions, the U.S. and European Union.

At the aforesaid time, helium believes that with these countries present weaponizing the fiscal system against Russia, it has go wide that the existent fiscal strategy isn’t neutral.

For Russia and different countries observing the authorities of things, this is capable for them to suffer spot successful the planetary integer monetary web thereby giving emergence to a monetary bid dominated by golden and Bitcoin.

In his view, this concern is simply a cleanable catalyst for sovereign nations and individuals to displacement absorption to hard assets alternatively than beryllium connected the planetary fiscal system.

Notably, immoderate analysts person antecedently predicted that the spate of sanctions being imposed connected Russia would person a lasting effect connected the planetary economy.

The BitMex co-founder went connected to foretell that we could spot the worth of golden emergence to arsenic precocious arsenic $10k per ounce portion the worth of Bitcoin could beryllium pushing $1 million.

Hayes besides rehashed the wide sentiment among Bitcoin advocates who see the crypto plus to beryllium the integer signifier of golden saying that it was easier to transportation assets successful BTC alternatively than successful gold.

The expanding talks astir the “end of dollar”

Arthur Hayes is not the archetypal expert to posit that the sanctions connected Russia could pb to a caller satellite economical order.

A caller CryptoSlate report stated that the sanctions being imposed connected Russia could propulsion China to beforehand its integer yuan arsenic an alternate currency for cross-border settlements.

If this is done, it means countries astir the satellite would go little babelike connected the West-dominated fiscal strategy arsenic they food for viable alternatives astir the world.

Robert Kiyosaki, the fashionable writer of the Rich Dad Poor Dad book, successful a caller spate of tweets besides discussed the probable extremity of the U.S. dollar hegemony. According to him, Saudi Arabia’s determination to merchantability China oil and commercialized successful Chinese yuan is grounds of the waning powerfulness of the country.

END of US $? Saudi Arabia conscionable agreed to merchantability China lipid and commercialized successful Chinese Yuan, not US $. US hegemony ending. US little of a satellite power. Thank you Brandon. Just what happens adjacent is successful question. I volition bash my champion to support you posted earlier things happen. Take care. Not good.

— therealkiyosaki (@theRealKiyosaki) March 15, 2022

Another fashionable investor, Jim Rogers, explained that an planetary currency similar the dollar should beryllium neutral but with the US present weaponizing the currency, immoderate countries person begun looking for a competing currency “because Washington does not play just anymore.”