As rapid financial and geopolitical changes encourage investors to revalue traditional assets, the well-known cryptocurrency offers insight into why Changpeng Zhao (CZ) and Arthur Hayes are changing their focus on alternatives like Gold and Bitcoin.
Their perspective highlights both current market behavior and deep macroeconomic trends.
CZ: A speculative frenzy reign. But the builder is back
Former Binance CEO CZ recently observed changes in emotions within Crypto. He said via X that many participants seem to be less focused on building meaningful technology, focusing on short-term benefits and “someone who can come out in the biggest bag.” This speculative attitude, apparent in areas like the Memecoin market, is about long-term builders.
Don’t worry, they will be returned to the building. They’ll hate me by saying this, but only a handful of Memecoins will survive.
– CZ🔶BNB (@CZ_BINANCE) April 5, 2025
However, CZ is optimistic that serious developers (“builders”) will return, especially as the historic bear market will encourage real innovation. He advises people with long-term visions of patience and focus.
Related: Trump’s tariff shock market: Crypto loses $10 billion, Bitcoin prices are volatile
Hayes: US debt, tariffs will damage finances, boost BTC/money
Bitmex co-founder Arthur Hayes provides a macroeconomic framework for shifts. He argues that since leaving Gold Standard in 1971, the reliance on the global financial system on US Treasury control has been split under the weight of massive US federal debt.
Hayes has linked this historic debt to domestic political dissatisfaction and the rise of “American first” trade policies, such as President Trump’s recent tariffs. These tariffs, he argue, are disrupting the global trend of the dollar. If foreign countries make less dollars in trade, they are unable to easily buy more US debt, and are forced to sell existing holdings of the US Treasury and stock, weakening traditional markets. Policy uncertainty further thwarts foreign reliance on the US financial system.
As a result, Hayes predicts that, due to immunity from such policies, gold will re-emerge as a favorable neutral reserve asset for international trade settlements. He sees Bitcoin as a digital alternative and gains its appeal as a valuable reservoir when trust in traditional systems is eroded.
Million Bitcoin Pass, Currency Wars related to Hayes’ Policy Fallout
Hayes predicts that this macro shift could drive Bitcoin to $1 million, especially if currency turmoil erupts between the US and China.
Related: Bitcoin Trump Tariff Test: Can support up to $82K bear up to $78,000?
He specifically predicts the USDCNY exchange rate, which hit 10.00 due to political pressure, calling the currency dynamic a potential “super bazooka” of Bitcoin prices.
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