Arthur Hayes explains why Bitcoin’s growth depends on fuel, not ideology
In his new essay "Suavemente," Arthur Hayes examines how US political decisions, oil prices, and the printing press converge at one point — the rise of Bitcoin. This insight is crucial for anticipating future trends in the crypto market.
Source Сryptohayes
Hayes emphasizes that politicians primarily focus on reelection, with the economy and inflation as key factors. The most visible economic indicator is fuel prices: high fuel prices almost guarantee electoral troubles, while low prices ensure political stability. This pragmatic interest drives the US to control oil prices, including Venezuelan oil, to curb inflation and keep the printing press running. According to Hayes, Bitcoin benefits from increasing liquidity—that is, the expansion of the money supply—rather than rising energy costs.
Therefore, Bitcoin's future growth depends on the dynamics of the money supply and political decisions regarding energy resources control, a factor that investors and crypto market participants should carefully consider.
