TechFlow News: On January 24, Arthur Hayes, co-founder of BitMEX, posted on X stating that if reports indicating Japanese authorities are preparing to intervene in the foreign exchange market are true, it would be “extremely bullish” for Bitcoin. He explained that the underlying logic is as follows: The Federal Reserve creates bank reserves through “money printing,” then sells U.S. dollars and buys Japanese yen—thereby indirectly intervening in the yen’s exchange rate.
Arthur Hayes noted that if the Fed is indeed manipulating the yen, its balance sheet will show an increase under the category of “foreign currency-denominated assets,” a figure verifiable in the weekly H.4.1 report.
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