Unchained Arthur Hayes on Why Tariffs Will Be Good for Bitcoin and Crypto - Ep. 813
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Apr 8, 2025 
Arthur Hayes, the CIO of Maelstrom and former BitMEX CEO, discusses the potential positive effects of Trump's tariffs on Bitcoin and the crypto market. He explores the concept of a 'fiat liquidity bonanza' and its implications, along with the ongoing dynamics between centralization and decentralization in crypto trading. Hayes critiques the push for government Bitcoin reserves and dives into the evolving landscape of decentralized exchanges. He also shares insights on future price expectations for Bitcoin, Ethereum, and Solana.
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Tariffs and Market Dynamics
- Trump's tariffs aim to reverse the US trade deficit, impacting financial markets.
- Foreign earnings from US trade often finance US government and stocks, creating an interconnected system.
Political Divide and Economic Interests
- Richer, educated individuals tend to vote Democrat, while poorer, less educated individuals tend to vote Republican.
- This divide reflects differing economic interests shaped by globalization and its impact on various job sectors.
Federal Reserve's Role
- The Federal Reserve's primary role is to ensure government funding, even if it means printing money.
- This can lead to inflationary policies despite a strong economy, as seen with the current quantitative easing.