Arthur Hayes, founder of Bitmex, says that all the import duties with which Donald Trump and other world leaders sprinkle are a positive development for Bitcoin. He suspects that Trump’s import duties can put the world economy into trouble, but that the same disruption can be exactly what Bitcoin needs.
This is good for Bitcoin
“Global imbalances are corrected and the pain will be remedied with the money printer, which is good for Bitcoin,” said Hayes via the X-platform of Elon Musk.
“Some of you are scared, but I love import duties,” said Hayes about the policy of Donald Trump and his government.
Following the statements, he made those statements on the announcement from the White House that practically all countries in the world are confronted with an import levy of 10%, and that China, Europe and Japan have to do with 34%, 20%and 24%.
For several reasons, Hayes expects that the import duties will ultimately turn out positive for Bitcoin. The first reason is a weaker US dollar, because investors will sell US shares and “bring money back home.”
On April 3, the Nasdaq (American Tech Fair) underwent its biggest loss ever on a daily basis. “The index lost a total of 1,060 points and was only 1.5% away from the first circuit Breaker since March 2020,” said The Kobeissi Letter.
A circuit breaker stops trade on the stock markets if the rates fall too fast.
Weaker Chinese Yuan is also good for Bitcoin
Hayes also says that the strict import duties against China can weaken the Yuan. “With an effective levying of 65% against China, they can respond by weakening the CNY,” said Hayes.
According to Hayes, a weaker Yuan can ensure that Chinese investors look at more risky assets, such as Bitcoin, to protect their ability.
In addition, Hayes commented on the diving of the interest on American government bonds with a duration of two years. According to him, that is a signal from the market that they expect relaxation from the US central bank.
Claim € 10 free today and do not pay trading costs over the first € 10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Only deposit € 10 and receive € 10 free of charge. Moreover, you can act without costs for 7 days over your first € 10,000 in transactions. Start today and take advantage of the growing popularity of Crypto!
Make your account and claim € 10 for free.
Don’t miss this opportunity to take advantage of the growing popularity of Crypto!
Source: https://newsbit.nl/arthur-hayes-houdt-van-importheffingen-geldprinter-is-goed-voor-bitcoin/
