The CEO and co-founder of BitMEX, Arthur Hayes, an exchange which has crossed of about $1 trillion in volume in the previous year recently appeared on the episode of Laura Shin’s Unchained podcast from the CME Global Leadership Conference in Naples, Florida.
On the show Laura Shin questioned her guests regarding the future of Blockchain technology and how does it look like. The first to answer to the question was Hayes. He started by explaining his story on how he got involved in crypto trading. Till the month of May 2013, Hayes was working in Citi Bank. He further added that he got involved in Bitcoin trading for survival as he had lost his job. Around that time, he got into derivatives trading. Within a span of 8 months, he launched BitMEX, in January 2014. He went on to explain that he strongly believes that the norm in the future would be 24/7 trading and such condition would be possible only for crypto markets and doesn’t prevail for every stock market.
He explained that ” What really struck me about Bitcoin and the world of crypto assets was that for the first time, you basically have access for people who otherwise wouldn’t interact with financial markets. […] I think 24/7 trading of all different types of assets is something that’s going to be the future, and that will bleed into other markets we’re all familiar with, you know, FX, fixed income, and equities.”
Later on, Shin questioned on the podcast with regards to whether crypto assets are a new asset class, to which Hayes answered telling that he thinks it’s a “blend.”
He said that although currently, cryptocurrency world is extremely small to be evaluated under a “bonafied asset class” but in the next decade, it “maybe” classified under such category.
Among all such speculation, the most important thing to consider and watch for is whether bitcoin will be secure or not in the longer run.