The famous entrepreneur Arthur Hayes noted that if regulators decide to re-apply the quantitative easing (QE) policy, this could cause a significant increase in the market of risky assets, including Bitcoin. Quantitative easing is a mechanism in which central banks buy government bonds, introducing additional liquidity into the economy in order to reduce interest rates and support consumption during difficult economic periods.
Hayes emphasized that if the Bank of Japan suspends the quantitative easing (QT) policy and returns to selective QE at the upcoming June meeting, this will lead to a sharp rise in risky instruments. The QT policy, launched by the Japanese central bank in August 2024, involves a gradual reduction in government bond purchases by 400 billion yen every quarter. However, recent problems in the Japanese bond market have forced investors to look for alternative assets to protect themselves from sovereign risks, and Bitcoin has become one of these options.
In addition to the situation in Japan, Hayes drew attention to the US economy, which, in his opinion, is facing serious structural problems, which he described as "metabolic disorders and obesity." This picture includes growing government debt, massive issuance of new dollars, and significant infusions of foreign capital. According to Hayes, all these factors ultimately create favorable conditions for further growth of Bitcoin, since it is perceived as a means of protection against inflation and devaluation of traditional currencies.
Thus, according to Arthur Hayes, further monetary policy of leading central banks, especially a return to quantitative easing, will serve as an important driver for the cryptocurrency market and primarily for Bitcoin. This emphasizes the growing role of digital assets as a hedging tool in the context of an unstable global economy and ongoing financial risks.