Arthur Hayes declared that Solana is a high-beta Bitcoin in the context of the upcoming US elections

Hayes believes that the Federal Reserve’s rate decision has a greater impact on digital assets than the impending US election outcome.

During an appearance on the Unchained podcast, Arthur Hayes, co-founder of BitMEX and CIO at Maelstrom, expressed his support for Solana in anticipation of the upcoming US elections, referring to it as a “high beta Bitcoin.”

Hayes elucidated that Solana is a viable investment due to its high liquidity and potential for a significant increase in value in the event that Bitcoin continues to perform well, with the elections approaching in mere days.

Furthermore, Hayes contended that the outcome of the US election is irrelevant in the long term, as the Federal Reserve’s decision to reduce rates on November 7 will have the most significant impact on digital assets.

“The Federal Reserve’s monetary policy remains the primary concern, rather than the imminent results of the elections,” he clarified.

Hayes also said that he likes Solana better than ETH and that Ethereum is “too slow” right now and needs a story shift to change people’s minds about how badly it has been doing lately.

He noted that Solana presently has the “mind share,” advances rapidly, and will likely outperform Bitcoin when the market surges, while Ethereum is “equal beta” to Bitcoin, or perhaps even slightly lower.

Hayes emphasized in the podcast that Solana’s remarkable ascent from approximately seven dollars to over one hundred and eighty dollars, particularly in the aftermath of the FTX collapse, serves as a testament to its capacity to swiftly accumulate and maintain value.

Hayes also addressed regulatory aspects, emphasizing that substantial advancements in crypto regulations are improbable, regardless of political shifts.

His recommendation to investors and speculators is to prioritize market fundamentals over political developments, which frequently have temporary effects on market dynamics.

Hayes concluded the session by underscoring the strategic significance of investing in high-beta assets such as Solana during periods of anticipated monetary easing.

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