At the WebX 2025 summit, former BitMEX CEO Arthur Hayes stated in an interview with Bitcoin.com News: The essence of the fiat currency system is that it must continuously print money to survive, and the so-called growth, even if driven by AI, may lead to large-scale job losses. Without a wealth redistribution mechanism (such as UBI), the majority will lose their ability to repay debts, leading to systemic risks in the financial system.
Hayes pointed out that the world is currently operating in a 'refinancing system,' rolling over debt and delaying repayments. He bluntly stated that in such an environment, bonds are a 'very bad investment.'
This statement continues his consistent macro perspective: against the backdrop of fiat currency credit expansion and increasing structural contradictions, investors should pay more attention to decentralized assets.