Hayes: Reasons to Buy Bitcoin Amid U.S. Government Control

Digital asset strategist Arthur Hayes pointed to the U.S. government's control over bond yield curves as a reason to buy Bitcoin. In an interview with Crypto Insider on the 21st, Hayes stated that the digital asset market is at a long-term turning point. Bitcoin is attempting to break through $80,000 after ending an 80-day consolidation, which he explained is a result of Treasury Secretary Yellen's announcement to expand the scale of Treasury bond purchases. Hayes criticized that a vicious cycle has begun as the government creates more debt and there are fewer buyers to purchase it. He analyzed that as the yield on 10-year Treasury bonds approaches 5%, the Treasury has formalized market intervention. He emphasized that under artificial interest rate manipulation, market participants have no choice but to sell Treasury bonds and move to scarce assets like Bitcoin. While the rise in Bitcoin's price is influenced by a short squeeze in the short term, he predicted that it will rise further if interventions continue in the long term. Hayes pointed out that governments are infinitely printing fiat currency to funnel funds into their own Treasury bonds, which he believes will be a strong force to change the trend of Bitcoin.

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