Japan's new Prime Minister, Sanae Takaichi, has announced a series of economic stimulus measures aimed at mitigating inflation's impact on households. The package includes subsidies for electricity and gas, as well as regional grants to encourage wage increases among small to medium-sized businesses. BitMEX co-founder Arthur Hayes suggests this could lead to increased fiat money printing by Japan's central bank, potentially driving Bitcoin's price to $1 million.
Hayes, in a recent post, interpreted the stimulus as a precursor to more monetary easing, which he believes could boost Bitcoin's value significantly. Meanwhile, the Japanese yen fell to a one-week low following Takaichi's appointment, as investors anticipate the Bank of Japan's upcoming monetary policy meeting on October 29. Analysts expect a 0.75% interest rate hike by early 2026, though Takaichi's pro-stimulus stance may push Japan towards easing sooner.
In related developments, large Bitcoin investors, or whales, are showing renewed interest in the cryptocurrency. Following a recent dip to $104,000, whales have been increasing their long positions, signaling bullish sentiment. Notably, whale wallet "0x3fce" expanded its Bitcoin long position to $49.7 million, while another whale opened a leveraged long position worth $14 million.
Arthur Hayes Predicts $1M Bitcoin Amid Japan's Economic Stimulus
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