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0 sats \ 0 replies \ @116165 OP 21 Sep 2023 freebie
Arthur Hayes, former BitMEX CEO, believes billions of dollars may flow from China into Bitcoin due to the yuan's 15% devaluation against the U.S. dollar. He suggests this based on the gap between China's export earnings and foreign reserves. Hayes predicts that some of these funds could enter the crypto market, particularly Bitcoin, which he thinks could reach $70,000 despite central banks' actions like interest rate hikes or money printing.