China’s response to America’s sweeping trade tariffs could result in capital flight to Bitcoin and crypto, according to BitMEX founder Arthur Hayes. “If not the Fed [Federal Reserve], then the PBOC [People’s Bank of China] will give us the Yahtzee ingredients,” said Hayes on X on April 8 in reference to the catalyst needed to resume the crypto market bull run. Hayes said that if the Chinese central bank devalued its currency, the yuan, the “narrative [is] that Chinese capital flight will flow into Bitcoin,” adding that “it worked in…
Read MoreChina’s tariff response may mean more capital flight to crypto: Hayes
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