So, Hayes thinks China’s yuan might take a nosedive, and guess who’s waiting with open arms? Bitcoin. 🤑 Because, apparently, when China sneezes, Bitcoin catches a cold—or in this case, a massive influx of capital. Classic.
Crypto’s Next Big Thing: Brought to You by China’s Currency Woes
On April 8, Hayes took to X (because where else do you go for financial wisdom?) to declare that a yuan devaluation could kickstart the next crypto bull run. He’s basically saying, “Hey, it worked in 2013 and 2015, so why not 2025?” Because history always repeats itself, right? 🙃
China’s Currency Shenanigans: Bitcoin’s Secret Sauce
Ben Zhou, CEO of Bybit, is all like, “Yeah, what Hayes said.” When China weakens the yuan to fight off trade tariffs, Chinese investors apparently go, “Screw this, let’s buy Bitcoin.” And just like that, Bitcoin’s price goes 🚀. Because nothing says “financial strategy” like a good old-fashioned panic buy.
If not the Fed then the PBOC will give us the yachtzee ingredients.
CNY deval = narrative that Chinese capital flight will flow into .
It worked in 2013 , 2015, and can work in 2025.
Ignore China at your own peril.
— Arthur Hayes (@CryptoHayes)
Yuan Down, Bitcoin Up: A Love Story
The yuan’s been on a steady decline against the U.S. dollar since 2022. And guess what? Every time the yuan takes a hit, Bitcoin’s like, “My time to shine!” Remember August 2015? China devalued the yuan by nearly 2%, and Bitcoin was suddenly the talk of the town. Coincidence? Probably not. 🤔
2019: Déjà Vu, But with More Bitcoin
Fast forward to 2019, and it’s the same old story. The yuan falls below the 7:1 mark against the U.S. dollar, and Bitcoin’s like, “Here we go again!” Prices shot up by 20% in a week, because apparently, Bitcoin is the go-to hedge for Chinese investors. Who needs gold when you’ve got digital currency, am I right? 💎
Grayscale’s Two Cents: Yuan’s Down, Bitcoin’s Up
Grayscale, the crypto asset management firm, chimed in back in 2019, saying the yuan’s depreciation likely fueled Bitcoin’s surge. So, there you have it. When the yuan stumbles, Bitcoin thrives. It’s like a twisted financial soap opera, and we’re all just here for the drama. 🍿
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2025-04-08 12:55