Arthur Hayes: Narrative is often more important than technology in the encryption market, and he is paying attention to altcoins

BitMEX co-founder Arthur Hayes wrote that the importance of narrative in the encryption market often exceeds the technology itself, because investors usually rely on the evaluation of others and the spread of the story to decide on investment. Arthur Hayes said that as the chief investment officer of Maelstrom, he is actually more like the "chief narrative officer". His job is to tell and spread stories that can arouse widespread discussion in order to achieve success in the encryption market. The better and more concise the story, the faster it will spread. The more widely a story spreads, the value of the tokens associated with that story will grow. In addition, Arthur Hayes said that the U.S. Bitcoin spot ETF and the expected launch of the Ethereum spot ETF will push up the prices of these two assets. He already holds Bitcoin and Ethereum and may buy more, but overall Attention is shifting to altcoins.