Arthur Hayes: Gold and fiat will not help protect capital during the war, but Bitcoin will help

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Arthur Hayes: Gold and fiat will not help protect capital during the war, but Bitcoin will help

Arthur Hayes published a new essay titled “For the War” in which he tried to explain why gold and fiat will not help protect capital during a war, but Bitcoin will. Main theses:

• Bitcoin cannot be confiscated (possible, but difficult) or banned – this is the value of decentralized assets.

• Bitcoin does not have a physical embodiment, you can store and quickly convert any equivalents.

• Bitcoin is out of the system and out of money.

• In times of war, states strictly regulate the movement of capital to the detriment of citizens.

• During times of war, free markets grow, and if free market goods are valued in electronic currency, that currency will be Bitcoin.

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