Arthur Hayes: Chinese Capital Flight May Flood Into Bitcoin as Yuan Slides
Arthur Hayes, co-founder and former CEO of crypto derivatives exchange Bitmex and now head of Maelstrom, a family office investment fund targeting early-stage cryptocurrency infrastructure ventures, issued a series of posts on social media platform X on April 7 outlining why China’s monetary policy could reignite bitcoin’s next rally.
As the U.S. dollar/Chinese yuan offshore (USDCNH) spiked to 7.3472—a 1.67% increase from its March 11 close of 7.2268—Hayes pointed to the People’s Bank of China (PBOC) as a potential catalyst: