BitMEX co-founder Arthur Hayes predicts Bitcoin's price will rise alongside surging oil and energy prices if tensions between Iran and Israel boil over.
Bitcoin prices will surge if escalating tensions in the Middle East cause oil and energy prices to rise, according to Arthur Hayes, co-founder of the crypto exchange BitMEX.
Hayes wrote in an Oct. 16 blog post that “oil prices would spike” in the scenario that Iran decided to strike major oil and natural gas fields in an escalated conflict with Israel which he added would “drag all other energy prices higher as nations short on oil would use other energy substitutes to power their economies.”
“What happens to the fiat price of Bitcoin? It pumps,” he said.
