Arthur Hayes, a key figure in BitMEX’s founding, has cautioned Bitcoin investors against chasing instant riches, advocating for a more patient approach. Hayes suggests that Bitcoin enthusiasts should shift their focus away from the record-breaking performances of assets like stocks and gold. He argues that questioning Bitcoin’s failure to reach new peaks misses the larger picture of its long-term potential.
These insights were shared during an interview released on Kyle Chasse’s YouTube channel on Friday. Hayes stated that viewing Bitcoin as a get-rich-quick scheme often leads to losses. He advised those who recently invested in Bitcoin to adopt the long-term perspective of those who invested three to five years ago, who are now reaping the rewards. Their patience is paying off, and new investors could learn from their example.
Arthur Hayes Encourages Bitcoin Investors to Embrace Patience
Hayes’ recent statements follow concerns voiced by some new Bitcoin buyers who are questioning why the digital currency hasn’t reached the $150,000 mark. This sentiment has been echoed by Bitcoin analysts recently, many of whom have pointed out that anyone anticipating a Bitcoin peak in the fourth quarter of 2025 lacks an understanding of statistics and probability.
Bitcoin analyst PlanC explained that expecting history to repeat itself perfectly after each halving is statistically unsound. “Relying on only three previous halving cycles is like flipping a coin and getting tails three times in a row, then betting everything that the fourth flip MUST BE tails,” he stated. PlanC suggests that the limited data from past halvings isn’t sufficient for reliable predictions. He also argued that the halving cycle’s relevance is diminishing, especially with the rise of companies holding Bitcoin as a treasury asset.
Hayes emphasized the need for investors to reframe their thinking regarding Bitcoin’s price. According to data from Curvo, Bitcoin has delivered an average annual return of 82.4% over the past decade. Hayes’ remarks come as Bitcoin continues to trade below its all-time high, which reached $124,100 on August 14. CoinMarketCap data indicates that Bitcoin is currently trading at approximately $115,890 as of this writing.
Hayes Asserts Bitcoin’s Strong Performance
This week, Gold achieved a new high, surpassing $3,670, and the S&P 500 also reached a record closing high of 6,587. Hayes dismissed the importance of these milestones in relation to Bitcoin. When Chasse asked when Bitcoin and the broader cryptocurrency market would begin to attract more capital from the global M2 money supply, given the recent highs of stocks and gold, Hayes countered, “I believe the fundamental premise of that question is flawed.” He continued, stating, “Bitcoin is the top-performing asset in terms of currency devaluation ever.”
Hayes pointed out that, even though the S&P 500 has increased in dollar terms, it hasn’t recovered to its 2008 level when compared to the price of gold. He added, “If you deflate the housing market by gold again, it is nowhere close to where it was.” Hayes explained that large US tech companies are nearly the only asset to do well when deflated by gold. He suggested that deflating most things by Bitcoin would show how truly well it performed over the years because of Bitcoin’s exceptional performance.
Back in April, Hayes predicted that Bitcoin could potentially reach $250,000 by the close of the year. Joe Burnett, the Research Director at Unchained Markets, echoed this prediction in May. Notably, several forecasts made as early as 2024 have remained consistent since May 2025. This consistency stems from the fact that several industry assumptions, including pro-crypto regulations, have materialized as anticipated.
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