"I've turned a bit more bullish, and I'll explain why. It's time to think about money creation and money printing, and what that means for bitcoin."
"The central argument in Hayes' presentation is that AI-related job displacement created a quiet credit deflationary event that central banks failed to recognize."
"Conditions are stressed but not severe enough to trigger a flight from risk assets. Front entries are tending toward the back end, which says that, yeah, sh**'s fu**ed up, but it's not super-duper fu**ed up."
Arthur Hayes forecasts bitcoin will hit $125,000 by year-end, driven by wartime spending and increased bank lending. The Enhanced Supplemental Leverage Ratio could lead to $1.3 trillion in new loans. He notes that AI job losses have caused a credit deflationary event, but U.S. defense spending of $1.5 trillion mitigates this impact. Hayes emphasizes the importance of understanding money creation and its implications for bitcoin, while monitoring the U.S.-Iran conflict and its effects on risk assets.
Read at news.bitcoin.com
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