BitMEX co-founder Arthur Hayes says Bitcoin as US debt rises $97,678.3He believes it can reach seven-figure value. Hayes told his 586,800 followers on social media platform
SLR Rule Change and Bitcoin
The SLR rule aims to prevent banks from taking too much risk by determining the amount of liquidity that large banks should hold. The SLR rule change, introduced temporarily during the COVID-19 pandemic, was implemented to ease treasury market congestion and increase banks’ ability to provide loans to households and businesses.
Hayes believes Bitcoin could reach $1 million in the current cycle. He stated that global central banks’ increase in money supply would contribute to this increase. “Every government around the world will do the same thing and print money, which will increase the amount of money printed tremendously,” said Hayes, adding that this could significantly increase the value of Bitcoin.
“US banks’ PR campaign to get SLR exemptions is in full swing. This allows banks to buy US Treasuries with infinite leverage and easily finance the insane amount of debt the US government issues. “This is another sign that BTC is on its way to $1 million.”
Hayes also stated that the global financial system is in a transition period and elites will resist change. This resistance will lead to the printing of never-before-seen amounts of money, which will subsequently cause significant increases in the value of digital assets such as Bitcoin.
At the time of writing, Bitcoin is trading at $96,922 and has increased by 2.7% in the last 24 hours.
Impact of Changes to the SLR Rule
Changes to the SLR rule could increase the amount of money circulating in the market by allowing banks to have more liquidity. This could increase the demand for digital assets, pushing up the value of Bitcoin. Hayes’ predictions offer a remarkable perspective considering the current dynamics in the Bitcoin market.
The increasing popularity of Bitcoin and the positive predictions of names like its founder are increasing investors’ interest in digital currencies. However, market fluctuations and changes in regulations are among the important factors that can affect the future value of Bitcoin.
The future of Bitcoin and cryptocurrency markets in general is closely linked to global economic conditions and financial regulations. Arthur Hayes’ insights provide important clues as to how these connections might work.
Bitcoin continues to gain value due to economic uncertainties and interventions of central banks around the world. Investors shape their strategies by taking these dynamics into consideration.
Developments in the Bitcoin market clearly show the impact of the economic and financial environment on digital assets. Hayes’ predictions offer an important perspective on Bitcoin’s future potential.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
