Arthur Hayes, co-founder of BitMEX, believes a catalyst could help push the price of Bitcoin (BTC) into seven figures as US debt mounts.
Hayes tells his 586,800 followers on social media platform
The SLR base change was temporary available During the COVID-19 pandemic “to relieve pressures in the Treasury market resulting from the coronavirus and increase the capabilities of banking institutions to provide credit to households and businesses.”
SLR He specifies How much liquidity do large banks need to ensure that banks do not take on too much risk?
He says Hayes,
“The PR campaign by US bankers to get an exemption from the SLR is in full swing. These are the top stories from Bloomie (Bloomberg) [Wednesday]. This allows banks to buy USTs (US Treasury Securities) with unlimited leverage and easily finance the crazy amount of USG (US Government) debt issuance. Another sign on the road to BTC = $1 million.”
Last month, Hayes said he believes Bitcoin could reach $1 million this cycle due to global central banks increasing the money supply.
“I think we could get to $1 million at the end of the cycle — $1 million… because the amount of money that would be printed would be absolutely insane because every government around the world is doing the same thing, which is printing money to make it.” My people are happy that global growth is slowing…
I believe we are going through a transition in the global financial system. We’re going to change it. Elites will resist change, which means they will print a lot of money and more money than has ever been printed because they do not want to change American hegemony after World War II.
Bitcoin is trading for $96,922 at the time of writing, up 2.7% over the past 24 hours.
Never miss an opportunity – sign up to get email alerts delivered directly to your inbox
Check price action
Follow us on X, Facebook and cable
Browse Hodl’s daily mix
 
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: mid-flight