Arthur Hayes, former CEO of crypto exchange BitMEX, has just published an essay titled For the War, in which he explains how BTC will protect investors’ capital during a war.
According to him, governments have a wide variety of tools to ensure the financial loyalty of citizens and limit their ability to invest. In this regard, Hayes has suggested paying attention to decentralized assets, which cannot be banned altogether and whose value does not depend on the banking system.
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Hayes has added:
“Any digital asset held by banks, regardless of the currency, can be confiscated. You have to completely disconnect.”
He has pointed out the authorities could potentially ban the conversion of fiat money into Bitcoin, but will not have such an easy time confiscating it from the owners.