China’s Debt Stimulus Could Boost Bitcoin, Says Arthur Hayes

Bitcoin’s role as a hedge against monetary debasement may be strengthened by China’s rising national debt, according to BitMEX co-founder Arthur Hayes. China is reportedly considering a fiscal package of more than 10 trillion yuan (around $1.4 trillion), potentially increasing further if Donald Trump is re-elected as U.S. president, according to anonymous sources cited by Reuters.

If implemented, the debt issuance would take place over the next three years, aimed at supporting local governments in managing debt risks. Hayes believes that this potential debt expansion could spark renewed interest in Bitcoin among Chinese traders, seeing it as protection against currency devaluation. He referred to this scenario as a “great buying opportunity,” noting that when wealthy Chinese investors start buying Bitcoin at any price in yuan, the resulting price surge could mirror past volatility.

The prediction coincides with Bitcoin’s recent surge past $70,000, fueled by anticipation of the upcoming U.S. presidential election on November 5. Hayes draws parallels to 2015, when Bitcoin’s price increased five-fold following consecutive yuan devaluations by the People’s Bank of China (PBOC), which resulted in a 3% drop in the yuan’s value. During that period, Bitcoin rose from $135 to $600 within three months.

Hayes’ perspective aligns with that of other investors, such as MicroStrategy’s Michael Saylor, who have described Bitcoin as a reliable hedge against inflation and fiat currency devaluation.

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