BitMEX founder discusses the potential impact of the Federal Reserve and PBOC on Bitcoin's growth. Yuan devaluation may drive Chinese investors towards Bitcoin.
Arthur Hayes, the founder of BitMEX, believes that either the Federal Reserve of America or the People’s Bank of China (PBOC) will drive the next surge in digital currencies. He argues that if the US does not ease its monetary policy, the devaluation of the Chinese Yuan will push capital towards Bitcoin. Referring to past trends, Hayes claims that Yuan devaluation often steers Chinese investors towards Bitcoin. It is noteworthy that the Yuan has recently hit its lowest level since late 2023. Despite recent fluctuations in Bitcoin, Hayes remains optimistic and encourages investors to buy during price dips.
