Arthur Hayes Sees Bitcoin Rocket to $200K: How Treasury Buybacks Will Fuel The Surge

Arthur Hayes, former CEO of BitMEX, believes the US government’s new plan to buy back outstanding debt will trigger a massive surge in Bitcoin prices. In his April 23rd essay titled “Group of Fools,” Hayes linked this program to Bitcoin reaching $110,000 and possibly even $200,000. Hayes argues that the US Treasury’s recent move, which involves issuing new short-term debt to buy back older bonds, has unleashed fresh liquidity into the market via hedge funds.