Arthur Hayes "Japan's stimulus package will drive Bitcoin to $1 million"

Son Min

Summary

Arthur Hayes, founder of BitMEX, said that the Bank of Japan's quantitative easing policy could drive Bitcoin to $1 million.
It reported that the yen hit a one-week low after Prime Minister Sanae Takaichi announced the economic stimulus package.
Markets said that Prime Minister Takaichi's pro-stimulus policy could act as a variable in the Bank of Japan's decision on interest rate hikes.

When Japan's new prime minister, Sanae Takaichi, announced a stimulus package, there was speculation that Bitcoin (BTC) could reach $1 million.

On the 22nd (local time), according to Cointelegraph, Arthur Hayes, founder of BitMEX, said that quantitative easing (QE) by the Bank of Japan (BOJ) is expected and "this trend will lift Bitcoin to $1 million." He added, "The Bank of Japan's policy means printing money to help with food and energy costs."

This follows Prime Minister Sanae Takaichi unveiling an economic stimulus package today to ease households' inflation burdens. The main points include subsidies for electricity and gas bills, encouraging wage increases for small and medium-sized companies, and expanding local support payments.

Also, immediately after Takaichi took office, the yen hit its lowest level in a week. Markets see her pro-stimulus policy stance as a variable that could affect the Bank of Japan's decision on interest rate hikes.

Hayes has previously predicted that "if the Bank of Japan switches to quantitative easing, the next bull market for Bitcoin and risk assets will begin."

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