Arthur Hayes: Bitcoin still the ‘fastest horse’ as US plots $15tn imperial pivot

Group 1 - Arthur Hayes emphasizes Bitcoin as the "fastest horse" in the context of the US's economic strategy to counteract geopolitical competition from a rising Eurasian bloc led by China, Russia, India, and Iran [1][2] - The US Treasury Secretary's plan for reindustrialization is expected to generate trillions in new credit, which could lead to inflation and significantly increase Bitcoin's value beyond its current price of $115,000 [1][3] - Hayes projects over $15 trillion in combined credit growth from the Federal Reserve and commercial banks by 2028, similar to the scale of Covid-era stimulus, but focused on manufacturing and heavy industry [3] Group 2 - Bitcoin's recent price surge past $124,000 is attributed to strong inflows from spot exchange-traded funds and the addition of cryptocurrencies to corporate treasuries, alongside a weakening US dollar [4] - While other cryptocurrencies like Ethereum and Solana have also reached all-time highs, Bitcoin is positioned as a unique asset due to its role as digital gold and a hedge against monetary debasement [4][5] - Hayes has previously set ambitious price targets for Bitcoin, including a prediction of $250,000 by 2025, and suggests that the future price will be significantly higher than the current level [5][6]