Treasury Buybacks Spark Fresh Bitcoin Bull Market, Hayes Predicts $110,000 Price Tag

Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at Maelstrom, believes that the U.S. Treasury's expanded bond buyback program marks the start of a fresh Bitcoin bull market.

This comes as Bitcoin has traded above $80,000 for the second day in a row, with some predicting it could reach $110,000 or even $200,000 in the coming weeks and months.

The Treasury will double its maximum long-bond buyback size from $2 billion to at least $4 billion per operation starting September 9th.

Hayes argues that by buying up older, longer-dated Treasury securities, their prices will increase, making risk assets like Bitcoin more attractive to investors seeking solid returns.