CRYPTO OG ARTHUR HAYES INCREASES BULLISH CONVICTION!

In his recent essay “Shikata Ga Nai”, Arthur explained that,

Japanese banks pursued higher yields through dollar-yen carry trades, but rising U.S. inflation led the Federal Reserve to hike interest rates, causing major losses for U.S. Treasury bond (UST) holders. Japanese banks like Norinchukin suffered significant losses and announced plans to sell $63 billion in foreign bonds, mainly USTs. The Bank of Japan (BOJ) is expected to buy these bonds using the Fed's FIMA repo facility, increasing dollar liquidity in global markets. This intervention benefits crypto investors, highlighting an opportunity amidst these financial troubles.

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