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Storing cryptocurrency is “the best way to preserve wealth.” In this regard, Bitcoin is preferable to gold due to the lack of national control, said ex-CEO of BitMEX Arthur Hayes.

In a new Zoom Out essay, the expert analyzed three major cycles, from the Great Depression of the 1930s to today's situation, focusing on the Pax Americana.

He explained his choice by the fact that the entire world economy is a derivative of the financial policy of the ruling empire:

1933-1980: ascending local cycle of Pax Americana;
1980-2008: global cycle of Pax Americana Hegemon;
2008–present: Local cycle of Pax Americana against the Middle Kingdom.
Hayes identified two types of periods - local and global. The first is characterized by the suppression by the authorities of “savers” to finance wars, the second by the deregulation of finance and the development of world trade.

The local period is inflationary, and the global period is deflationary.