3 weeks ago
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TLDR
- Arthur Hayes claims ECB will print money to address France’s debt crisis
- Bitcoin predicted to benefit from euro devaluation as investors seek safe-haven assets
- Hayes’ blog post “Bastille Day” criticizes European monetary leadership
- Bitcoin recently trading at $120,515, up 7% over the past week
- Hayes forecasts Ethereum will reach $10,000 by the end of 2025
In his latest provocative blog post titled “Bastille Day,” crypto billionaire Arthur Hayes has turned his attention to the European Central Bank (ECB), predicting that its handling of France’s debt crisis will drive Bitcoin prices higher. The former BitMEX CEO, known for his bold cryptocurrency forecasts, argues that excessive money printing by the ECB will boost Bitcoin’s value as investors seek alternatives to a weakening euro.
Hayes focuses on France, the eurozone’s second-largest economy, which he claims has the highest debt burden in the region. According to Hayes, this debt situation will force the ECB into a difficult position.
“The ECB will valiantly print money to forestall the loss of its raison d’être,” Hayes wrote in his blog post. He added bluntly that “France is fucked.”
The crypto entrepreneur presents what he sees as an inevitable scenario: either the ECB prints money now to finance the French welfare state, or it will be forced to do so later when French capital controls threaten to destroy the euro. In both cases, Hayes believes trillions of euros will enter circulation.
Bitcoin has been trading at approximately $120,515 per coin, showing a 7% increase over the past week. Most of these gains occurred following a government shutdown, as many investors turned to Bitcoin as a safe-haven asset.
Money Printing and Cryptocurrency Gains
Hayes has previously made similar claims about the U.S. Federal Reserve’s monetary policy. Earlier this year, he predicted Bitcoin could reach $1 million by 2028 due to what he expects will be continued money printing by the American central bank.
The current criticism of the ECB follows the same logic. Hayes argues that central bank interventions that devalue fiat currencies will drive investors toward scarce assets like Bitcoin.
“It shall be a glorious day for the faithful as printed euros will combine with printed dollars, yuan, yen, etc. to bid up the price of Bitcoin,” Hayes wrote. He described Bitcoin’s rise as “inexorable” compared to the euro, which he called a “piece of trash.”
While Hayes focuses on monetary policy, social factors may also play a role. Reports indicate that younger generations in France have been protesting against rising debt, stagnant wages, and fears about their economic future.
Broader Market Impact
The cryptocurrency market as a whole has seen gains alongside Bitcoin. Ethereum, the second-largest cryptocurrency by market capitalization, recently traded at $4,492, representing a nearly 10% increase over the past week.
Hayes has also made predictions about Ethereum, forecasting that its price will reach $10,000 by the end of 2025. This would represent a substantial increase from its current valuation.
Market observers note that investors often turn to cryptocurrencies like Bitcoin during periods of economic uncertainty, government shutdowns, or fears of currency debasement. The recent price movements seem to align with this pattern.
Hayes’ critique of the ECB, particularly focusing on ECB President Christine Lagarde, suggests he believes European policymakers have few alternatives to debasing the common currency. This perspective positions Bitcoin as a hedge against inflation and monetary policy decisions.
Despite the attention Hayes’ predictions receive, some market analysts caution that his dramatic forecasts often combine sharp rhetoric with selective economic data. Nonetheless, his views continue to influence cryptocurrency market sentiment.
Bitcoin’s current market performance, rising past $120,500 with an 8% increase over seven days, suggests that traders may be responding to these types of analyses and predictions about central bank policies.
English (US) ·