Arthur Hayes: Japan Yen Fix Could Fuel Bitcoin and Ethereum Rally
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Arthur Hayes argues that the US Treasury and Japan’s Ministry of Finance will route newly printed dollars through the Federal Reserve’s currency swap facility to strengthen the yen, creating a wave of dollar liquidity into global markets. He expects that liquidity to drive asset flows into crypto and safe-haven markets, naming Bitcoin and Ethereum (and gold) as primary beneficiaries, implying positive market impact for crypto adoption and prices.
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Arthur Hayes published a new essay this week arguing that the US Treasury and Japan’s Ministry of Finance have settled on a single method to strengthen the yen: running newly printed dollars through the Federal Reserve’s currency swap facility.
Hayes says the mechanics point to a wave of dollar liquidity hitting the global markets, and he’s positioning Bitcoin (BTC), gold, and Ethereum (ETH) to catch the bulk of it.
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