Arthur Hayes, the former CEO of BitMEX, has predicted that Russia’s latest sanctions will have disastrous economic consequences. In the next ten years, according to Hayes, there will be a surge in investment in gold and Bitcoin.
Hayes’ comments echoed a prognosis made by Credit Suisse last week. According to the investment bank, the US dollar is losing its status as a global reserve currency, and commodities such as gold will take its place.
The value of the US dollar is decreasing.