Arthur Hayes is talking about money printing this time—the end of the chain is where the coin price is.
The chain doesn’t start in the crypto world.
For AI companies to build data centers, they need tens of trillions of dollars, while service prices are still moving downward. The funding gap can only be filled by printing money. At the same time, U.S. Treasury financing is also on this same road. As money increases, the nominal prices of scarce assets get bid up. Hayes directly connected this storyline to cryptocurrency. He also watched two external signals: first, that a major Asian country might shift from mild tightening to large-scale monetary stimulus; and second, financial stress on the France side—specifically credit default swaps related to BNP Paribas and the French government bond spread. He characterizes this as a slow-moving disaster happening beneath the surface.
In the crypto world, that translates into buy-side demand for crypto assets.
👉 我每天盯的价位清单、判断更正，都先发群里。进来对着看
The chain doesn’t start in the crypto world.
For AI companies to build data centers, they need tens of trillions of dollars, while service prices are still moving downward. The funding gap can only be filled by printing money. At the same time, U.S. Treasury financing is also on this same road. As money increases, the nominal prices of scarce assets get bid up. Hayes directly connected this storyline to cryptocurrency. He also watched two external signals: first, that a major Asian country might shift from mild tightening to large-scale monetary stimulus; and second, financial stress on the France side—specifically credit default swaps related to BNP Paribas and the French government bond spread. He characterizes this as a slow-moving disaster happening beneath the surface.
In the crypto world, that translates into buy-side demand for crypto assets.
👉 我每天盯的价位清单、判断更正，都先发群里。进来对着看