- Arthur Hayes urges Bitcoin investors to be patient and focus on long-term gains.
- Bitcoin recently traded at around $116,000, below its previous record of $124,100.
- The S&P 500 and Gold reached new all-time highs, while Bitcoin has declined 6% over the past month.
- Hayes argues that Bitcoin remains the best-performing asset despite short-term fluctuations.
- Some analysts, including Hayes, maintain a target of $250,000 for Bitcoin by year-end.
Bitmex co-founder Arthur Hayes advised Bitcoin holders to maintain patience in light of recent market movements, urging them not to compare Bitcoin’s price performance directly with stocks or gold. He spoke in an interview with Kyle Chasse published on YouTube, addressing concerns over Bitcoin lagging behind other major assets.
Bitcoin continues to trade below its all-time high of $124,100, sitting at approximately $116,000 as of publication, according to CoinMarketCap. In contrast, the S&P 500 reached $6,587 and gold hit $3,674, both establishing new peaks last week. Over the past 30 days, Bitcoin’s price declined by about 6% based on CoinMarketCap data.
“If you thought you were buying Bitcoin and the next day you were buying a Lamborghini, you’re probably getting liquidated because it is not the right way to think about things,” Hayes said during the interview. He encouraged investors to “readjust their perspective” and noted that those who bought Bitcoin two, three, or ten years ago have seen significant returns. Data from Curvo shows Bitcoin’s average annualized return has been 82.4% over the past decade.
Addressing the notion that Bitcoin is underperforming compared to stocks and gold, Hayes rejected the premise, asserting that “Bitcoin is the best performing asset when you think about currency debasement ever.” He argued that while tech stocks have done well when measured against gold, Bitcoin’s performance, when compared similarly, is unmatched.
Earlier this year, Hayes projected that Bitcoin could reach $250,000 by the end of 2025, a prediction echoed by other analysts like Joe Burnett of Unchained. Despite Bitcoin’s recent volatility, Hayes stressed the importance of focusing on its long-term record of growth rather than short-term price movements.
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