On Tuesday (7 February 2023), Arthur Hayes, Co-Founder and former CEO of BitMEX, revealed that he is getting back into Bitcoin even though he realizes that “buying into Bitcoin when it is already up 50% off the lows is dangerous.”

In a blog post published earlier today, Hayes wrote:

I can’t always wait for the perfect setup. It’s time to get in while the getting is good…

I moved the portion of my liquid fiat money that I’m comfortable risking out of money market funds / short-term US Treasury bills and into USD cash, which I can then deploy quickly into the risk assets of my choosing…

I’ll deploy over the coming days. I wish my size actually mattered, but it doesn’t — so please don’t think that when this happens, it will have any discernible effect on the price of the orange coin.

According to data from Trading View, in the year-to-date period, the Bitcoin price has gone from $16,520 to $23,057, which is a gain of around 40% (vs USD).

Source: TradingView

One crypto analyst finding Bitcoin’s latest price action amusing is Josh Rager:

On 31 January 2022, Robert Kiyosaki, the highly successful author of the “Rich Dad Poor Dad” series of personal finance books, shared his thoughts on why the Bitcoin price has been surging recently:

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