Bitcoin Price Soars on Money Printing Fears

The Bitcoin price has surged by 20% since mid-August, propelled by investors betting against the US dollar in what's known as the debasement trade.

This sudden price hike has added $300 billion to Bitcoin's market capitalization in mere hours, sparking a fresh round of money printing fears among traders.

Arthur Hayes, cofounder of BitMex and founder of the Maelstrom Fund, told podcaster Anthony Pompliano that investors should 'get ready' for more price growth, predicting that Bitcoin could reach $250,000 in the coming years.

Hayes pointed to US Treasury secretary Scott Bessent's promise of bond market support as a catalyst for continued money printing, which he expects will drive up the price of Bitcoin even higher.