Arthur Hayes: Instead of focusing on Circle, it's better to go long on Bitcoin and JPMorgan Chase

BitMEX founder Arthur Hayes stated in his latest article that the US government's provision of trillions of dollars in liquidity tools to large banks (TBTFs) through stablecoin policies is not a manifestation of DeFi or financial freedom, but rather a "disguised debt monetization" of innovation. He believes that the stable currency will be used to buy treasury bond to maintain the rise of the stock market, fill the fiscal deficit, and weaken the competitiveness of financial technology companies (such as Circle). Hayes pointed out that instead of waiting for Federal Reserve Chairman Powell to announce "unlimited quantitative easing," investors should consider going long on Bitcoin and JPMorgan instead of focusing on companies like Circle. He stressed that the "trojan horse" of stable currency has infiltrated the market, whose goal is to maintain the foam of stock market, finance the fiscal deficit and appease elderly investors by purchasing treasury bond. He called on investors to seize the opportunity and not wait for the Federal Reserve to further release liquidity.