BitMEX CEO Arthur Hayes says he believes that Bitcoin is heading towards an all-time high.
End of fiat and mass adoption of crypto
He spoke to Venture Coinist and said that the new generation loves the digital assets and this will be the main trigger for mass adoption of crypto and the end of fiat.
“Now that we’ve come to this time period where the baby booming generation and the older Gen Xers are entering the years when they are disposing of assets, their tastes and preferences are less relevant than the younger generation, Millennials, who are entering their prime asset earning years. And so what do we know about Millennials?” he began.
He continued and said that some of them are digital natives who have had a screen in their hand since they were kids.
This means that they had very little human interaction. He went further and made an analogy with dealing with digital money.
He said that the “analog ways of dealing with money and trading are not going to be successful in the next 10 to 20 years. It’s going to be mobile-first platforms. It’s going to be platforms that deal only on the internet.”
BTC to hit $10k by the end of 2019
Hayes also said that a new round of money printing from government around the world would boost BTC to $10k by the end of this year.
On the other hand, in the long run, Hayes said that cash would disappear entirely and this will remove the number one way that people enjoy financial privacy.
Without fiat currencies, Hayes said that there would finally be a real mass adoption of crypto and BTC can eventually reach $50,000 and even more.