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Arthur Hayes: TradFi's new popular narrative is "depreciation trading" and they don't care about crypto's "four-year cycle"
On October 9, the new popular narrative in TradFi is "debasement trade." It took them nearly twenty years to notice. Don't think they will forget about this because of Bitcoin's "four-year cycle." Now it's the bankers' turn to sell clients gold, crypto assets, and tech stock derivations. Note: "Debasement trade" refers to investors seeking to protect wealth or gain returns in an environment of currency depreciation by configuring asset portfolios. It usually involves investing in asset classes that perform well during inflation or currency depreciation.