BitMEX co-founder Arthur Hayes posted on the X platform, stating that if the news (that Japanese authorities may be preparing to intervene in the exchange rate) is true, it would be "extremely bullish" for Bitcoin. He explained that the logic is as follows: the Federal Reserve creates bank reserves by "printing money," then sells U.S. dollars to buy Japanese yen, thereby indirectly intervening in the yen exchange rate. Arthur Hayes pointed out that if the Federal Reserve is indeed manipulating the yen, its balance sheet would show an increase in the category of "foreign currency denominated assets," which can be verified in the weekly H.4.1 report.
Arthur Hayes: The Fed's Potential Intervention in the Yen Could Be Extremely Bullish for Bitcoin
TechFlowShare
Summary
Arthur Hayes called the Fed's potential intervention in the yen a bullish trend for Bitcoin, citing the indirect effects of selling dollars and buying yen. He noted that such actions would increase foreign currency assets on the Fed's balance sheet, which can be observed in the H.4.1 report. News from the Fed regarding yen activity could signal broader monetary shifts, reinforcing the bullish trend in the cryptocurrency markets.
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