The world of digital finance is evolving rapidly, and few figures have been as influential—or as outspoken—as Arthur Hayes, co-founder and former CEO of BitMEX. In a recent appearance on the Unchained podcast, Hayes shared his forward-looking perspective on the future of cryptocurrency, suggesting that within the next 10 years, digital assets like Bitcoin (BTC) could solidify their place as a distinct asset class.
While the idea isn't new, Hayes' take carries weight due to his deep experience in financial markets and crypto derivatives. As one of the pioneers behind one of the largest cryptocurrency derivative exchanges by trading volume, his insights offer a unique blend of institutional finance knowledge and blockchain innovation.
Could Crypto Emerge as a Legitimate Asset Class?
When asked whether cryptocurrencies represent a new asset class, Hayes offered a nuanced answer. He acknowledged the potential but expressed caution:
“Could cryptocurrency become a real asset class in the next 10 years? Maybe. But long-term, it’s still an experiment. We don’t yet know if Bitcoin is truly safe.”
This statement reflects a growing sentiment in the financial world: while crypto shows promise, it remains volatile, relatively unregulated, and still in its developmental phase. Unlike traditional asset classes such as equities, bonds, or real estate—each with established valuation models and risk profiles—cryptocurrencies are still defining their identity.
Hayes described crypto not as a pure currency or security, but as a hybrid asset combining elements of money, technology, and speculation. This hybrid nature complicates its classification but also opens up new possibilities for innovation in global finance.
👉 Discover how digital assets are reshaping investment strategies in 2025.
The Future of 24/7 Global Markets
One of Hayes’ most compelling predictions centers around market structure evolution. He believes that traditional financial markets—currently bound by trading hours, holidays, and geographic limitations—are headed toward a future of continuous, around-the-clock trading.
“I believe the trend for all types of assets is 24/7 trading. This model will eventually permeate into the markets we’re all familiar with—foreign exchange, fixed income, and equities.”
This shift is already visible in the cryptocurrency market, where trading never stops. Unlike stock exchanges that close at 4 PM local time, crypto platforms operate globally and continuously, enabling real-time price discovery across time zones.
As more institutions adopt blockchain-based settlement systems and decentralized finance (DeFi) tools mature, Hayes envisions a world where instantaneous transactions and perpetual liquidity become the norm—even for non-crypto assets.
This transformation could reduce arbitrage opportunities, improve market efficiency, and democratize access to financial markets for investors worldwide.
From Crypto Winter to Spring: A Market Cycle Perspective
Hayes has long emphasized the cyclical nature of crypto markets. Back in early November, he drew from past experience—particularly the bear markets of 2014 and 2015—to predict that the current "crypto winter" could last up to 18 months.
Bear markets, while painful for investors, play a crucial role in weeding out weak projects and speculative excess. They also allow strong teams to build foundational infrastructure without hype-driven distractions.
Despite the downturn, Hayes remains optimistic about the long-term trajectory. At the time of writing, **Bitcoin was trading at $37,550**, marking a nearly 6% gain on the day. This rebound followed a dip to $31,720 earlier in the week, signaling renewed investor interest amid improving macroeconomic signals.
Such volatility is typical during transitional phases, especially when macro factors like interest rates, inflation, and regulatory developments intersect with technological progress.
Why Institutional Adoption Matters
For cryptocurrency to evolve into a recognized asset class, institutional participation is key. Hayes pointed to platforms like the Chicago Mercantile Exchange (CME) as early adopters helping bridge traditional finance and digital assets.
CME’s launch of Bitcoin futures contracts was a landmark moment, providing regulated exposure to BTC for hedge funds, pension funds, and other large players. These instruments allow institutions to hedge risk or gain exposure without holding actual coins—a critical step toward broader acceptance.
As more financial giants explore tokenized assets, central bank digital currencies (CBDCs), and blockchain-based settlement layers, the line between traditional and digital finance continues to blur.
👉 See how global financial leaders are integrating blockchain into mainstream systems.
Core Keywords Driving the Narrative
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- Cryptocurrency
- Bitcoin (BTC)
- Asset class
- Arthur Hayes
- 24/7 trading
- Crypto market
- Financial innovation
These terms reflect what users are actively searching for: insights into crypto’s legitimacy, expert opinions from industry leaders, and analysis of how digital assets might reshape investing.
Frequently Asked Questions (FAQ)
Q: What does it mean for crypto to be a new asset class?
A: An asset class is a group of investments with similar characteristics and behaviors in the market—like stocks or bonds. For crypto to qualify, it needs consistent performance patterns, broad adoption, regulatory clarity, and integration into mainstream portfolios.
Q: Is Bitcoin safe as a long-term investment?
A: According to Arthur Hayes, Bitcoin remains an experiment. While it has shown resilience over time, risks related to regulation, security, and adoption persist. Diversification and due diligence are essential.
Q: Will traditional markets really go 24/7?
A: The trend is moving in that direction. With electronic trading platforms and global connectivity, extended hours are already common in forex and futures markets. Full 24/7 equity trading may take years—but crypto is paving the way.
Q: How long do crypto bear markets usually last?
A: Historically, major bear cycles have lasted between 12 to 18 months. Recovery depends on macroeconomic conditions, technological advancements, and renewed investor confidence.
Q: What role do institutions play in legitimizing crypto?
A: Institutional involvement brings capital, credibility, and infrastructure. When major banks and funds invest in or offer crypto products, it signals growing acceptance and helps stabilize the market.
Q: Can small investors benefit from 24/7 crypto trading?
A: Yes. Continuous markets allow retail investors to react instantly to news and global events without waiting for exchanges to open—offering greater control over timing and execution.
👉 Learn how 24/7 markets are changing the way people invest today.
Final Thoughts: An Experiment Worth Watching
Arthur Hayes’ vision paints a future where blockchain-powered finance transcends borders and time zones. While he remains cautious about declaring crypto a fully formed asset class just yet, his belief in its transformative potential is clear.
The journey from speculative novelty to institutional-grade asset won’t happen overnight. But with continued innovation, regulatory progress, and growing adoption—especially from global financial leaders—the next decade may indeed witness cryptocurrency’s emergence as a legitimate pillar of modern portfolios.
As markets evolve and technology advances, staying informed—and agile—will be key for both new and experienced investors navigating this dynamic landscape.