Arthur Hayes: 99% of Altcoins Could Go to Zero

Odaily reported that Arthur Hayes stated at the Consensus Miami 2026 event that 99% of altcoins could drop to zero, which is part of a normal market cleansing. Since 1929, approximately 98% of companies in the S&P 500 have gone to zero, meaning most stocks are also altcoins over the long term. Cryptocurrencies crash faster due to 24/7 trading and a lack of restrictions. He suggests viewing tokens as software; the failure of most software projects due to an inability to attract users is a normal business reality.

The price and future value of Bitcoin depend on the total amount of fiat currency and the speed at which it is created, and are unrelated to politics or regulation. Bitcoin is currently trading at around $82,000, and its utility lies in allowing users to transfer value outside the traditional financial system. Centralized crypto companies seek regulation to protect their businesses, but this will not impact the validity of Bitcoin or cryptocurrencies.