Arthur Hayes: 99% of Altcoins May Go to Zero

Odaily Planet Daily reported that Arthur Hayes stated at the Consensus Miami 2026 event that 99% of altcoins might drop to zero, which is considered a normal market cleansing. Since 1929, approximately 98% of companies in the S&P 500 index have gone to zero, and most stocks, in the long term, are essentially altcoins. The collapse of cryptocurrencies happens faster because they trade 24/7 and lack restrictions. Hayes suggested viewing tokens as software, noting that most software projects fail due to an inability to attract users, which is a common business reality. The price and future value of Bitcoin depend on the total amount of fiat currency and the speed at which fiat is created, rather than political or regulatory factors. Currently, Bitcoin is trading at around $82,000, and its utility lies in enabling users to transfer value outside the traditional financial system. Centralized crypto companies seek regulation to protect their businesses, but this does not impact the effectiveness of Bitcoin or cryptocurrencies.