#BitcoinHashRateSurge Arthur Hayes named the evidence for Bitcoin reaching $1 million soon
The former CEO of the cryptocurrency exchange BitMEX stated that the price of the first cryptocurrency will definitely reach $1 million — thanks to a change in the supplementary leverage ratio. When American banks get the opportunity to change the supplementary leverage ratio (SLR), which regulates the volume of assets, liquidity will increase in the markets, significantly accelerating the growth of Bitcoin, explained Arthur Hayes. "American banks are lobbying for relaxations regarding the SLR. This topic has become one of the main news stories on Bloomberg. Banks will be able to purchase U.S. government bonds using unlimited leverage, which will ease the financing of the growing national debt. This is another benchmark indicating that the price of Bitcoin is capable of reaching the $1 million mark," suggested the businessman. A temporary adjustment to the SLR rules was introduced during the COVID-19 pandemic to reduce pressure on the treasury bond market and increase the ability of banking institutions to provide loans to households and companies,