Arthur Hayes, former CEO of BitMEX, has criticized the European Central Bank's (ECB) handling of France's escalating debt crisis, suggesting it could lead to increased Bitcoin investment. Hayes warned that the ECB might resort to unlimited money printing, potentially weakening the euro and enhancing Bitcoin's appeal as a scarce asset. He described the ECB's potential actions as akin to 'lighting the printing press on fire,' predicting a loss of confidence in the eurozone. Following Hayes' remarks, Bitcoin surged past $120,500, with traders attributing the rise to his analysis and increased risk-taking. Hayes' critique highlights concerns over the euro's stability and the potential for Bitcoin to benefit as a hedge against inflationary pressures.