BitMEX co-founder Arthur Hayes predicts Bitcoin (CRYPTO: BTC) will hit $145,000 by year end as the Federal Reserve quietly expands its balance sheet by $40 billion per month and wartime spending forces commercial banks to print money.
The Fed Is Already Printing
Hayes said the Fed’s balance sheet is expanding at approximately $40 billion per month through reserve management purchases, despite all the inflation concerns.
He noted that people were freaking out after Federal Reserve Chair nominee Kevin Warsh testified to the Senate about how quantitative easing has harmed poor people, but the reality is different.
When Warsh gets in, the impetus will be to continue the policies of his predecessor, which is balance sheet expansion.
Hayes added that he doesn’t believe the Fed balance sheet will shrink. It’s going to take a long time for them to agree about a framework that governs that shrinkage.
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