Arthur Hayes, Maelstroms CIO and former CEO of BitMEX, posted an exuberant "BUY EVERYTHING CHI-MERICA LIVES!!!!"
Arthur Hayes, the former CEO of BitMEX and Maelstrom's CIO, went wild on Friday following a surprise U.S.-China trade breakthrough, posting an exuberant "BUY EVERYTHING CHI-MERICA LIVES!!!!"
The post went up after the U.S. and China agreed to a 90-day moratorium on trade tariffs — news that ultimately dampened anxiety and was bullish for overall market sentiment.
As part of the temporary agreement, the U.S. will be reducing tariffs on imports from China from 145% to 30%, while China will lower duties on imports from the U.S. from 125% to 10%. The tariff reductions will go into effect on May 14 and were put in place to ease trade tensions and to allow for an additional three months to negotiate.
At the same time, U.S. stock futures and software stocks rallied as well. The Nasdaq Composite and the S&P 500, the two most tracked stock markets in America, are up by 3.39% and 2.69%, respectively, as per MarketWatch.
The tariff truce is an already bullish setting for crypto. But, it's unclear how the markets will react after the 90 days are over.
Possibly, this is why Hayes has been advocating that investors buy everything, placing bets on reduced trade tensions, increased institutional adoption, and improved macro conditions, accelerating a more thorough breakout across the digital asset class.
At the time of writing, however, Bitcoin is trading at $103,143.95, down by 0.84% in the last hour, as per Kraken’s price feed.
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