Arthur Hayes, One Of BitMEX Founders: 'Dogecoin Will Get ETF Approval At The US Crypto Market'

Arthur Hayes, co-founder of BitMEX; Dogecoin will get ETF approval on the US crypto market (Photo; Doc. Bitcoinist)

JAKARTA - Recently, Arthur Hayes, co-founder of BitMEX, gave a surprising forecast: Dogecoin, a digital currency born as a joke, will gain approval for Exchange Trade Fund (ETF) in the United States market. In an interview withtensive Pal, CEO of Real Vision, Hayes expressed his belief that Dogecoin's popularity could no longer be ignored by big players in the financial industry.

Reporting from CryptoPotato, Hayes argues that memecoins like Dogecoin still have unextracted potential, especially in the midst of the expansionary policies of the Federal Reserve and the US Department of Finance that continue to print money. For beginners in the crypto world, Dogecoin is an easy entrance, "said Hayes. No need to worry about understanding blockchain or cryptography.

In a blog post, Hayes suggested that this is the right time to "buy Bitcoin" and then "cheatcoin", responding to the low-interest rate policy adopted by Bank of Canada and European Central Bank. History has shown that low-interest rates are in favor of rising stock prices and Bitcoins, which in turn drive capital flows into a more speculative and volatile memecoin market.

Hayes and Pal agreed that Dogecoin would gain ETF approval in the United States before the end of today's bull market cycle. Dogecoin is the oldest and most available memecoin on Robinhood, said Hayes. If we think about traditional financial transitions to crypto, and they will make the ETF of anything possible, Dogecoin is a candidate with a large market capitalization.