Arthur Hayes discloses the composition of his investment portfolio, including cryptocurrencies such as Bitcoin, crypto company shares, gold, etc.

Arthur Hayes, co-founder of BitMEX, wrote that the hierarchy of its investment portfolio starts with Bitcoin, followed by other cryptocurrencies and cryptocurrency-related company equity, then gold stored in vaults, and finally stonks (note: a hot word in technology in 2021 to lament the crazy trend of these stocks), and a small amount of fiat currency will be kept in money market funds to pay American Express bills. In addition, it also said that it took the United States $4 trillion to reduce its debt-to-nominal GDP ratio from 132% to 115%. Assuming that the United States further reduces it to 70%, the level in September 2008, using only linear extrapolation is equivalent to having to create $10.5 trillion in credit to achieve this deleveraging, which is why Bitcoin has reached $1 million.