Arthur Hayes: If Trump and Besant implement yield curve control, Bitcoin could rise to $3.4 million.

On September 23, Arthur Hayes stated in his latest article that the core of the re-industrialization plan proposed by Basent lies in controlling the Fed and implementing yield curve control (YCC). This means that short-term interest rates are determined by the interest on excess reserves (IORB) and the discount window rate, while the long end is lowered by the Fed's balance sheet expansion to buy bonds. He deduced that if Trump controls the Fed and implements this plan in 2026, the total new credit scale from the Fed and commercial banks could reach $15.2 trillion. Based on the rise of Bitcoin during the COVID-19 pandemic, the BTC price could theoretically reach $3.4 million by its peak in 2028.

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