Arthur Hayes Forecasts ‘Most Hated’ Bitcoin Rally Ever As Infinite Money Printing Ensues
Crypto veteran Arthur Hayes is predicting that the Federal Reserve’s new Bank Term Funding Program (BTFP) will ultimately trigger a “hated” Bitcoin (BTC) rally.
The Fed’s BTFP offers loans of up to one year in length to banks pledging US Treasuries, agency debt, mortgage-backed securities and other qualifying assets as collateral.
In a recent blog post, Hayes says that BTFP essentially equates to “infinite money printing,” which will likely boost risk assets like Bitcoin and crypto.
“BTFP ushers in infinite money printing … globally.
The ensuing Bitcoin rally will be one of the most hated ever. How can Bitcoin and the crypto markets in general rally sharply after all the bad things that happened in 2022? Didn’t people learn Bitcoin and those associated with it are scumbags? Aren’t people afraid of the narrative that Bitcoin caused the failure of large banks, and almost consumed the US banking system?”
Hayes says that current macro conditions mean that equities will generally lag behind the more volatile crypto assets. The crypto billionaire also says he’s set to liquidate the majority of his stock positions and allocate it into Bitcoin or digital assets.
“For me and my portfolio, I’m largely done trading [stocks.] What’s the point? I generally buy and hold and don’t trade around my positions that frequently. If I believe what I wrote, then I am signing myself up for underperformance. If there is a short-term trading opportunity where I think I can earn some quick fiat duckets and then take my profit and buy more Bitcoin, I will do it. Otherwise, I am liquidating most of my stock portfolio and moving it into crypto.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Arthur Hayes Forecasts ‘Most Hated’ Bitcoin Rally Ever As Infinite Money Printing Ensues appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
