Bitcoin price to hit $200,000 by March as Fed ‘thinly disguises’ new money printing tool, says Arthur Hayes

Core Viewpoint - Arthur Hayes predicts Bitcoin will reach $200,000 by March 2026 due to the Federal Reserve's new Reserve Management Purchases program, which he argues is effectively a form of quantitative easing [1][2][3]. Federal Reserve Actions - The Federal Reserve is set to purchase $40 billion of government debt each month through the RMP, which Hayes claims creates new money similar to previous quantitative easing programs [2][4]. - The Fed's current approach is framed as a technical adjustment rather than economic stimulus, allowing the program to run indefinitely without limits [4]. Market Reactions - Hayes believes that once investors recognize the implications of the RMP, Bitcoin will quickly rise past $124,000 and approach $200,000 [2][6]. - Currently, Bitcoin is expected to remain between $80,000 and $100,000 until the end of 2025, as investors are still skeptical about the Fed's narrative regarding money printing [6]. Economic Implications - The new money generated by the Fed's purchases will flow into the economy, potentially driving up prices across various assets, including Bitcoin [5].