- BitMEX founder Arthur Hayes confidently asserts global monetary expansion across major economies will drive Bitcoin’s unprecedented price surge.
- Major economies including the U.S., China, Europe, and Japan plan significant money printing, triggering potential long-term currency devaluation.
Arthur Hayes, founder of BitMEX, has outlined how a shift in global macroeconomic policies could drive Bitcoin and other cryptocurrencies to unprecedented price levels. In a recent interview with Scott Melker, Hayes explained that major economies, including the U.S., China, Europe, and Japan, are likely to increase their money supplies to achieve specific economic objectives.
Continuing with ETHNews reports, Hayes noted that the U.S. administration, under President Trump, has signaled its intent to weaken the dollar and expand credit creation. The goal is to stimulate economic growth and position the U.S. as a global manufacturing hub.
“In China they need to do almost the same thing – a little bit different – they need to pump up their property market, get the plebs investing in stocks again, get them confident again, get inflation up, they need to print yuan as well. Japan needs to sell a bunch of sh*t and repatriate yen and the US doesn’t want them to sell their stuff so the US is going to give them money so they don’t sell anything.
To compete with China, the U.S. may need to inject trillions of dollars into its economy. Similarly, China faces the challenge of reviving its property market and boosting consumer confidence, which will likely require an increase in the supply of yuan.
Europe and Japan are also part of this trend
Europe aims to decarbonize its economy while reducing its reliance on Russian energy and Chinese imports. At the same time, it must maintain its welfare systems, which will likely necessitate further money printing.
Japan, meanwhile, is under pressure to stabilize its economy, potentially requiring the repatriation of yen. The U.S. is expected to provide financial support to prevent Japan from selling off assets.
Hayes emphasized that these coordinated efforts to expand money supplies across major economies will have a direct impact on asset prices. He believes Bitcoin, as a decentralized and deflationary asset, is uniquely positioned to benefit from this trend.
“These are the massive changes and the economics of the world that will bring crypto, the only free market left in the world and to an extent gold, to fiat price levels that are unimaginable. That’s how we get to $1 million Bitcoin, $250,000 is a stop along the way. It’s this realignment of the chessboard, and everybody on the board is going to print money to help themselves out.”
According to Hayes, the resulting devaluation of fiat currencies could push Bitcoin to prices as high as $1 million, with $250,000 being a potential intermediate target.
