BitMEX Co-founder Arthur Hayes Predicts 2,700% Bitcoin Price Surge
Arthur Hayes, the co-founder of BitMEX, is reiterating his prediction that Bitcoin will skyrocket to a price of $1 million. According to Hayes, this surge will be triggered by a monetary policy tool called yield curve control (YCC).
Yield curve control is used by central banks to influence long-term interest rates by purchasing long-term bonds in order to prevent rates from rising above the target level. Hayes believes that the loose monetary policy environment enabled by the US government, despite the Federal Reserve’s tightening measures, will be instrumental in driving Bitcoin’s price to new heights.
In March of this year, Hayes first made his seven-figure Bitcoin prediction, attributing it to China’s relaxation of its monetary policy. He also suggests that the recent decision by the Federal Reserve to pause interest rate hikes will prompt other central banks to ease their own monetary policies.
A Bullish Outlook for Bitcoin
Hayes expresses his optimism for Bitcoin and asserts that now is the time to invest in cryptocurrencies. He plans to increase his allocation from treasury bills into Bitcoin and other digital assets. With the Fed’s pause on interest rate hikes, he anticipates significant stimulus from central banks in China, Europe, and Japan.
Hot Take: Bitcoin’s Explosive Price Growth Anticipated
According to BitMEX co-founder Arthur Hayes, Bitcoin is on the verge of a massive price surge, with a potential gain of 2,700%. He believes that the implementation of yield curve control (YCC) and the loose monetary policies adopted by various central banks will act as catalysts for this explosive growth. Hayes’ bullish outlook is further supported by the recent decision of the Federal Reserve to pause interest rate hikes, indicating a favorable environment for financial assets. With expectations of substantial stimulus from central banks around the world, Hayes urges investors to consider increasing their exposure to Bitcoin and other cryptocurrencies.
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