BitMEX Co-Founder Arthur Hayes Sees Money Printing Extending Crypto Cycle Well Into 2026

Arthur Hayes believes the current crypto bull market has further to run, supported by global monetary trends he sees as only in their early ￰0￱ in a recent interview with Kyle Chassé, a longtime bitcoin and Web3 entrepreneur, the BitMEX co-founder and current Maelstrom CIO argued that governments around the world are far from finished with aggressive monetary ￰1￱ pointed to ￰2￱ in particular, saying that President Donald Trump’s second term has not yet fully unleashed the spending programs that could arrive from mid-2026 ￰3￱ suggested that if expectations for money printing become extreme, he may consider taking partial profits, but for now he sees investors underestimating the scale of liquidity that could flow into equities and ￰4￱ tied his outlook to broader geopolitical shifts, including what he described as the erosion of a unipolar world ￰5￱ his view, such periods of instability tend to push policymakers toward fiscal stimulus and central bank easing as tools to keep citizens and markets ￰6￱ also raised the possibility of strains within Europe — even hinting that a French default could destabilize the euro — as another factor likely to accelerate global printing ￰7￱ he acknowledged these policies eventually risk ending badly, he argued that the blow-off top of the cycle is still ￰8￱ to bitcoin, Hayes pushed back on concerns that the asset has stalled after reaching a record $124,000 in ￰9￱ contrasted its performance with other asset classes, noting that while ￰10￱ are higher in dollar terms, they have not fully recovered relative to gold since the 2008 financial ￰11￱ pointed out that real estate also lags when measured against gold, and only a handful of ￰12￱ giants have consistently ￰13￱ measured against bitcoin, however, he believes all traditional benchmarks appear weak.

Hayes’ message was that bitcoin’s dominance becomes even clearer once assets are viewed through the lens of currency ￰14￱ those frustrated that bitcoin is not posting fresh highs every week, Hayes suggested that expectations are ￰15￱ his telling, investors from the traditional world and those in crypto actually share the same premise: governments and central banks will print money whenever growth ￰16￱ says traditional finance tends to express this view by buying bonds on leverage, while crypto investors hold bitcoin as the “faster horse.” His conclusion is that patience is ￰17￱ argued that the real edge of holding bitcoin comes from years of compounding outperformance rather than short-term ￰18￱ with what he sees as an inevitable wave of money creation through the rest of the decade, he believes the present crypto cycle could stretch well into 2026, far from exhausted.