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Arthur Hayes: If Trump and Bessent implement yield curve control, Bitcoin may rise to $3.4 million
2025-09-23 05:25

According to Odaily Planet Daily, Arthur Hayes wrote in a recent article that the core of Buffalo Bill Bessent's reindustrialization plan hinges on controlling the Federal Reserve and implementing yield curve control (YCC). This means that short-term interest rates are determined by the interest rate on excess reserves (IORB) and the discount window rate, while long-term interest rates are held down by the Federal Reserve's expansion of its balance sheet and bond purchases.

He speculated that if Trump were to take control of the Federal Reserve in 2026 and implement the plan, the Fed and commercial banks could add a combined $15.2 trillion in new credit. Based on Bitcoin's price increase during the COVID-19 pandemic, the theoretical peak price of BTC could reach $3.4 million by 2028.