BitMEX co-founder Arthur Hayes has suggested that a change in US banking regulations could propel Bitcoin (CRYPTO: BTC) to a $1 million valuation.
What Happened: Hayes, addressing his followers on the social media platform X, indicated that if US banks receive an exemption from the supplementary leverage ratio (SLR) rule, it could lead to increased market liquidity, significantly boosting Bitcoin’s value.
The SLR rule, initially adjusted during the COVID-19 pandemic, was designed to alleviate Treasury market pressures and enhance banks’ credit provision capabilities.
Hayes noted that a campaign by US banks for an SLR exemption is underway, which would allow them to purchase U.S. Treasury securities with substantial leverage, potentially funding the extensive US government debt issuance.
He described this development as “another signpost on the road to BTC = $1 million.”
The PR campaign by US banksters to get an SLR exemption is …Full story available on Benzinga.com
