Bitcoin (CRYPTO: BTC) could emerge as the biggest beneficiary of renewed government intervention in bond markets, according to BitMEX co-founder Arthur Hayes.

Why Bitcoin Benefits From Liquidity

Speaking on the Bitcoin Magazine podcast on Sept. 9, Hayes argued that cryptocurrency remains the asset most sensitive to global liquidity expansion.

He said U.S. Treasury support for longer-dated bonds resembles a softer form of yield-curve control, signaling growing concern over high borrowing costs.

Hayes expects persistent bond-market pressure to eventually force policymakers to expand liquidity. With the U.S., Japan and China potentially relying on balance-sheet expansion, Hayes sees Bitcoin as the biggest beneficiary.

"The most responsive asset in human history to central bank money printing is Bitcoin," Hayes said, urging investors to "get on the fastest horse."

Bitcoin To Retest $70,000?

Hayes expects Bitcoin to consolidate after its rebound from $63,000 to above $80,000, with a possible retest of $70,000 before the next leg higher.

He sees fresh liquidity as the key catalyst for Bitcoin to push through $80,000, $90,000 and eventually $100,000.

Hayes said AI stocks absorbed speculative capital that might otherwise have flowed into Bitcoin, but concerns over AI spending and returns are growing.

He expects any AI-driven slowdown to trigger more government liquidity, potentially redirecting capital toward Bitcoin and gold.

Hayes was considerably less bullish on Strategy Inc. (NASDAQ:MSTR), arguing the company’s importance to Bitcoin’s price has diminished.

He argued institutional investors can now obtain direct BTC exposure through ETF products without taking on the corporate-finance risks associated with Strategy.

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