Arthur Hayes has restated one of crypto's foundational theses: the more fiat money created globally, the greater the value accrued by Bitcoin's fixed supply. The argument is structural — BTC's 21-million cap makes it a direct counterweight to monetary expansion, whether that expansion originates in Washington, Brussels, or Beijing.
The comment lands at a moment when central bank balance sheets remain historically elevated and inflation debates are far from settled. For long-term holders, Hayes' framing is less a price call than a reminder of the original macro case for holding a supply-capped asset.
CoinTelegraph