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Arthur Hayes: China's stimulus measures provide an excellent Bitcoin buying opportunity
2024-10-29 01:46
Odaily News Arthur Hayes, founder of BitMEX, wrote that the Chinese are among the wisest people on earth. They will not allow their savings to sit idle. China's stimulus measures will inject a lot of money into financial markets and drive up cryptocurrencies. However, quantitative easing by the People's Bank of China and the re-acceleration of bank credit growth will take time. In these early stages, the reaction of Chinese savers is what I expected: buying oversold domestic stocks and apartments. But give it some time, and the impact will be undeniable, which actually provides an excellent buying opportunity.