Arthur Hayes Says “The Most Important Macroeconomic Indicator”, Gives Shitcoin Message with Bitcoin

BitMEX founder Arthur Hayes will continue investing in cryptocurrencies due to central bank policies.

Hayes, the founder of the cryptocurrency exchange BitMEX, evaluated the policies of G7 central banks in his new blog post.

“The most important macroeconomic indicator”

“The dollar-yen exchange rate is the most important macroeconomic indicator,” said Arthur Hayes. In his previous article, Hayes suggested that the Fed use newly printed dollars to make an infinite amount of swaps with the Bank of Japan for yen in order to strengthen the yen.

“The G7 instead tried to convince the market that the interest rate differential between the yen, dollar, euro, pound sterling and Canadian dollar would close over time,” Hayes said.

But he said that the policy rate of other G7 central banks is in the range of 4-5%, while the policy rate of the Bank of Japan is 0.1%.

“The Bank of Japan cannot raise interest rates because it owns more than 50% of the government bond market in Japan,” he commented.

Will interest rates fall?

Hayes said, “If the Fed cuts interest rates at its meeting in June while inflation is still above the target, the gap between the dollar and the yen will be largely closed, which means the yen will strengthen. "I don't think the Fed is ready to cut interest rates because it is losing ground in the polls because of rising prices," Joe Biden said.

Hayes does not expect the Fed and the Bank of Japan to make a policy change anytime soon.

Bitcoin and shitcoin message

Arthur Hayes: “We know how to play this game. “We have been playing the same game since our savior Satoshi gave us the weapon we needed to defeat the evil of traditional finance in 2009,” he said.

BitMEX founder said he will take a long position in Bitcoin and later in shitcoins.