BlockBeats news, on May 15th, BitMEX co-founder Arthur Hayes released a latest article stating, "Given that we know the total assets of foreign investment portfolios are $33 trillion, the next step is a mental masturbation exercise, thinking about how much capital will withdraw from the United States and flow into Bitcoin. What if 10% of assets ($3.3 trillion) flee to Bitcoin in the next few years? At current market prices, exchanges hold approximately $300 billion in Bitcoin. If 10 times the capital tries to squeeze into the market, it will lead to a price increase of far more than 10 times.
This is because the final price is set by the margin. Of course, if the price surges towards $1 million, long-term holders will flock out and sell Bitcoin as fiat currency, but as these portfolio assets migrate to Bitcoin, an epic short squeeze will occur.
Bitcoin is a superior tool for global financial mobile capital because it is a digital holder asset. Storing and transferring wealth does not require intermediaries. Gold can only be moved digitally in paper form. This means that you must trust a financial intermediary to store your physical gold, and then you trade digital receipts. These intermediaries will be subject to financial regulatory constraints aimed at isolating capital domestically to support national priority industry policies through taxation. Therefore, unless you are a state or quasi state actor, gold can be moved as a physical holder asset
