China’s tariff response may mean more capital flight to crypto: Hayes
The People’s Bank of China could provide the catalyst to resume the Bitcoin bull market, according to BitMEX founder Arthur Hayes.
China’s response to America’s sweeping trade tariffs could result in capital flight to Bitcoin and crypto, according to BitMEX founder Arthur Hayes.
“If not the Fed [Federal Reserve], then the PBOC [People’s Bank of China] will give us the Yahtzee ingredients,” said Hayes on X on April 8 in reference to the catalyst needed to resume the crypto market bull run.
Hayes said that if the Chinese central bank devalued its currency, the yuan, the “narrative [is] that Chinese capital flight will flow into Bitcoin,” adding that “it worked in 2013, 2015, and can work in 2025.”
