Arthur Hayes, one of the most followed cryptocurrency analysts with his blog posts, stated that he expects a big rise in Bitcoin. Hayes, who stated that the new president Donald Trump will work to bring supply chains back to the US, said that this will require a big money printing policy.

“I am talking about double-digit trillions of dollars”

Hayes, who stated that a huge amount of money will have to be spent to move these supply chains and therefore production from China to the US, said the following:

“There will be a cost to moving supply chains back to America. Even if this is done for political purposes, it will be expensive. Cheap banking credit is needed to bring production from China to America. This means trillions of dollars… I am not talking about single-digit trillions of dollars, but double-digit trillions of dollars.”

“Bitcoin will reach $1 million this way”

Hayes, who stated that the ratio of US debt to GDP was reduced from 132% to 115%, stated that $4 trillion would have to be spent for this:

“Let’s say the government reduces this ratio to 70%. And 70% was seen in 2008. A $10.5 trillion credit line is needed to reach this level. Bitcoin will reach $1 million this way. As the supply of freely bought and sold Bitcoin decreases, fiat money will flee to safe havens not only in the US, but also in China, Japan and Western Europe. The fiat financial system needs constant credit and debt to survive. If banks collapse, the entire system collapses. One player always needs the support of the other. What needs to be done here to prevent the collapse of the system is to print new money. Remember, Signature Bank even gave a loan to Su Zhu and Kyle Davies’ bankrupt 3AC. 3AC managed to get the loan with a shaky balance sheet. Then they gave the money they showed on the balance sheet to their account withdrawal wives!”