Bitcoin (BTC), Ether (ETH) and even nascent altcoins are a solid "buy," a previously risk-off investor says.
In a blog post released on Feb. 8, industry stalwart Arthur Hayes announced a u-turn on his current crypto investment plans.
Current macroeconomic conditions stemming from the actions of the United States Federal Reserve previously made Arthur Hayes keen to avoid what he calls "risky assets."
As inflation slows in tandem with the Fed's rate hikes, multiple new storms are brewing in the U.S., and the Fed, the Congress and the Treasury will steer the economy as they see fit, he says. The problem is guessing how these events will play out over the course of the year.
For Hayes, 2023 could well be split into two halves, with H1 being an ideal investment environment for crypto.
Hayes continued that Bitcoin is likely far from done with its rebound despite 40% gains in January alone, comparing the risk asset environment to 2009 and the start of quantitative easing.
Concerns, however, remain over how the Fed will handle the U.S. debt problem — an issue that will have to be addressed sometime in the summer.
"Given that the Western-led fiat financial system would collapse overnight if the U.S. government decided to forgo raising the debt ceiling and instead defaulted on the assets that underpin said system, it's safe to assume that the debt ceiling will be raised," says Hayes. | 
