# Arthur Hayes Says, “Get your Bitcoin, and Get Out!”

*Author: David Hoffman*
*Published: Mar 22, 2023*
*Source: https://www.bankless.com/fr/podcast/arthur-hayes-says-get-your-bitcoin-and-get-out*

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And he’s done it again with his new piece, “Kaiseki,” which outlines one of the most chaotic and critical times in the macro and monetary landscape that we’ve seen, at least since 2008. 

In today’s episode, Arthur walks us through his essay, why he believes Balaji’s $1M Bitcoin bet is wrong, how he’s navigating these tumultuous times, and so much more. 

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### Timestamps
0:00 Intro

6:27 Arthur’s Recent, “Kaiseki” Essay

13:09 Bank Term Funding Program (BTFP) 

18:08 Effect on the Banking Sector

24:30 Current State of the Banking Sector 

30:44 Should We Support BTFP?

39:11  What’s Going to Happen to Crypto? 

46:56 Sending Bitcoin to $1M 

55:05 Effects on Expanding Variables 

57:35 Who Takes the Loss? 

1:00:00 Rampant Inflation Worldwide & Fiat

1:03:36 Swap Lines 

1:06:07 Punchlines & Endgame 

1:09:25 Everyone is a Speculator

1:10:49 What Will Arthur Hayes Do?

1:13:36 Closing & Disclaimers  

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### Resources
Arthur Hayes

https://twitter.com/CryptoHayes 

Arthur’s Recent, “Kaiseki” Essay

https://entrepreneurshandbook.co/kaiseki-b15230bdd09e