Japan Stimulus Sparks $1M Bitcoin Prediction as Yen Falls

Arthur Hayes, co-founder of BitMEX, believes that Japan's economic stimulus measures could drive Bitcoin to $1 million. The package unveiled by Prime Minister Sanae Takaichi includes subsidies for electricity and gas charges, as well as regional grants to support small and medium-sized businesses.

Hayes thinks this development may lead to increased fiat money printing by the Bank of Japan, which would be a catalyst for Bitcoin's rise. He previously forecasted that the Bank of Japan's pivot to quantitative easing would boost Bitcoin and risk assets.

However, most analysts expect the central bank to deliver a 0.75% interest rate hike by early 2026. The yen fell to a one-week low on Tuesday after Takaichi assumed office.