BitMEX co-founder Arthur Hayes has a message for impatient Bitcoin investors — slow down. He argues that those expecting instant wealth are bound to face disappointment.
Speaking with Kyle Chasse in a recent YouTube interview, Hayes said too many Bitcoin holders are focusing on the wrong comparisons. While stocks and gold are setting fresh records, he stressed that asking why Bitcoin isn’t higher yet misses the bigger picture.
“If you thought buying Bitcoin meant driving a Lamborghini the next day, you’re probably facing liquidation,” Hayes said. “That’s not the right mindset.”
He noted that newer buyers — especially those who entered in the last few months — may feel frustrated that Bitcoin isn’t trading at $150,000 yet. But long-term investors, he pointed out, are in a far better position. “Anyone who bought two, five, or ten years ago is sitting pretty,” he added.
Data backs up that claim: Bitcoin has delivered an average annualized return of 82.4% over the past decade, according to Curvo.
Bitcoin vs. Gold and Stocks
At the time of writing, Bitcoin trades at around $115,890 — below its August 14 all-time high of $124,100. Meanwhile, gold just touched $3,674, and the S&P 500 closed at a record 6,587.
Hayes, however, dismissed the idea that Bitcoin is underperforming compared to these traditional assets. He argued that Bitcoin should be viewed through the lens of monetary debasement, not short-term price moves. “Bitcoin is the strongest asset ever created to hedge against currency debasement,” he said.
He went on to highlight that while the S&P 500 appears strong in dollar terms, it has not kept pace with gold since the 2008 financial crisis. “Big tech has been the exception, but if you measure performance in Bitcoin, the comparison isn’t even visible on a chart — Bitcoin’s outperformance is just that extreme,” Hayes explained.
Bold Predictions Still on the Table
Despite short-term impatience among some traders, Hayes remains bullish. Back in April 2025, he predicted Bitcoin could reach $250,000 before year-end. A month later, Joe Burnett, Research Director at Unchained, echoed that same forecast.
For Hayes, the takeaway is simple: Bitcoin is about patience and perspective. Those seeking instant riches, he warns, are chasing illusions.
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