BitMEX co-founder Arthur Hayes has cautioned Bitcoin holders against chasing overnight riches, arguing that impatience and unrealistic expectations are a recipe for disaster in crypto investing.
In an interview with crypto entrepreneur Kyle Chasse, published on YouTube on Friday, Hayes stressed that Bitcoin is a long-term wealth-preserving asset — not a get-rich-quick ticket.
Earlier coverage: Alex Thorn: US Could Establish Strategic Bitcoin Reserve Before Year-End, Market “Underpricing Odds”
“If you thought you were buying Bitcoin and the next day you were buying a Lamborghini, you’re probably getting liquidated because that is not the right way to think about things,” Hayes said.
He acknowledged frustrations from some recent Bitcoin buyers who entered the market in the past six months and are questioning why BTC hasn’t yet soared past $150,000. But he pointed out that long-term holders are still massively in profit.
Kyle Chasse (left) interviewed Arthur Hayes (right) for his YouTube channel. Source: Kyle Chasse
“Anyone who bought it two, three, five, or 10 years ago, they’re laughing,” he added. Data from Curvo shows Bitcoin has delivered an annualized return of 82.4% over the last decade — far outpacing most traditional assets.
Hayes Rejects Claims That Bitcoin Is Lagging
Bitcoin is currently trading at $115,890, still below its record high of $124,100 set on Aug. 14, according to CoinMarketCap. Meanwhile, gold surged to a new peak of $3,674 this week, and the S&P 500 hit 6,587 — prompting some to ask why Bitcoin is not rising in tandem.
Bitcoin is down 6.09% over the past 30 days. Source: CoinMarketCap
Hayes dismissed these comparisons, insisting that Bitcoin’s long-term performance is unmatched. “The premise of that question is flawed. Bitcoin is the best performing asset when you think about currency debasement ever,” he said.
“Bitcoin’s Outperformance Is Ridiculous”
Hayes noted that while US stocks and gold are hitting new highs in dollar terms, their performance pales when adjusted against Bitcoin.
“The S&P 500 is up in dollar terms, but compared to gold, it hasn’t even recovered from 2008. If you deflate assets by Bitcoin, you can’t even see them on the chart — it’s just so ridiculous how well Bitcoin has performed,” he said.
Hayes has previously forecast Bitcoin reaching $250,000 by the end of 2025. That bullish call was echoed in May by Joe Burnett, research director at Unchained, underscoring growing confidence among Bitcoin advocates despite recent price corrections.