Fed Money Printing For Japan Good For Bitcoin: Arthur Hayes

Bitcoin could break out of its “sideways funk” if the United States central bank attempts to support a failing Japanese bond market by printing money, according to BitMEX founder Arthur Hayes.

Hayes proposed a theory on Wednesday about how the Federal Reserve “could be printing money to manipulate the yen and JGB [Japanese government bond] markets.”

Japan faces a dual crisis: the yen is weakening while Japanese government bond yields are rising simultaneously, signaling a potential loss of market…