~snip~
Bitcoin surged to $67,000 on the $4 trillion stimulus package spent during Covid. It was $3,800 at the start of the pandemic ― nearly an 18-fold increase.
Hayes anticipates a similar parabolic surge for Bitcoin if Trump injects $10.5 trillion in stimulus spending to bring the country’s debt back to 2008 levels.
“This is how Bitcoin goes to $1 million,” Hayes wrote.
Bitcoin surged to $67,000 on the $4 trillion stimulus package spent during Covid. It was $3,800 at the start of the pandemic ― nearly an 18-fold increase.
Hayes anticipates a similar parabolic surge for Bitcoin if Trump injects $10.5 trillion in stimulus spending to bring the country’s debt back to 2008 levels.
“This is how Bitcoin goes to $1 million,” Hayes wrote.
What nonsense this man can write, it's really incredible - because to claim that the stimulus checks that people mostly spent to survive from month to month are in any way responsible for the fact that the price of BTC increased after that has nothing to do with any logic.
So what caused the BTC price to rise from mid-2016 to the end of 2017 - from $400 to $20 000? Maybe Donald was performing some magic tricks in his oval office or there is some other inexplicable phenomenon
The fascination with numbers is apparently so great that people are willing to write all sorts of nonsense just to get a little attention. Even if the US decides to include BTC in its strategic reserves, it won't happen overnight, nor should it be expected that it will involve millions of BTC - rather, their strategy will be to use the BTC already seized and seize more.
Agreed. Arthur can sometimes write very long dear diaries on his blog hehehe. However, he is more knowledgeable than much of the people in the cryptospace. We cannot make ourselves reckon that much of us small minnows are smarter. His theory on the stimulus checks can be true because did this not cause an inflation and this also helped pump their economy and their markets?
In any case, there is a news update on Arthur Hayes and he predicts that the Donald will devalue the American dollar and this will cause a pump on bitcoin to $250,000.
The overarching theme for 2025 is an acceleration of money printing due to nationalistic economic policies, the chief investment officer for Maelstrom fund told DL News.
“Every nation will put their citizens first, and print money in an attempt to smooth out volatility,” he said.
This will set off a chain reaction of currency devaluation, which Hayes reckons will push investors to seek refuge in alternative assets such as gold, and cryptocurrencies.
“Bitcoin reaches $250,000 by the end of the year,” he told DL News.
Trump will be more aggressive in his monetary policy than other country leaders, Hayes said.
“Trump will massively devalue the dollar versus gold,”
Read in full https://www.dlnews.com/articles/markets/arthur-hayes-says-trump-to-devalue-usd-as-bitcoin-to-250k/
