Arthur Hayes: AI Capital Misallocation Could Benefit Bitcoin and Gold On September 8, 2026, BitMEX co-founder Arthur Hayes @CryptoHayes said in an interview with The Rollup @therollupco that the AI industry is entering a phase of capital misallocation, with large amounts of capital continuing to flow into data centers and related companies while some projects remain heavily reliant on cash burn. He believes political factors may drive governments and central banks to expand their balance sheets and provide liquidity to conceal bad investments, which is one reason why assets such as Bitcoin and gold have been performing strongly. Wu Blockchain cautioned that Arthur Hayes’ historical track record for market predictions has been relatively inaccurate and that his views are often subject to change. It recommends focusing on his analytical framework rather than his specific price and timing predictions.