Arthur Hayes Predicts End of US Dollar Reign as Global Reserve Asset

Arthur Hayes, prominent crypto figure and former trader at BitMEX, believes the era of U.S. Treasury bonds and stocks as global reserve assets has ended. In a recent statement on X (formerly Twitter), Hayes pointed to the 1971 decoupling of the dollar from gold by President Nixon as marking a turning point. Since then, U.S. Treasury debt has grown 85-fold. Hayes predicts that if the U.S.’s current account deficit is addressed, foreign buyers might cease purchasing U.S. bonds and stocks, potentially paving the way for assets like gold and Bitcoin to assume the role of global reserve assets.