Arthur Hayes: “BTC Could Hit $1 Million With Increased Global Liquidity”

Arthur Hayes, co-founder of global cryptocurrency exchange BitMEX, writes in his blog that “policymakers prefer instant solutions to difficult but necessary reforms. Taking the dollar-yen exchange rate as an example, the immediate solution for the Fed and the Bank of Japan is to engage in unlimited dollar-yen swaps to manipulate the value of the yen without raising interest rates. This strategy could lead to a weaker dollar and inflationary pressures. Meanwhile, a weaker yen would undermine China's export competitiveness and could trigger a yuan devaluation. Increased global liquidity leads to an increase in the value of cryptocurrencies. This is why it is important to monitor the dollar-yen exchange rate and the size of dollar-yen swaps.”