Arthur Hayes Says Fed’s Japan Yen Plan Will Pump Bitcoin

Arthur Hayes says a Fed plan to help Japan defend the yen will print new dollar liquidity, and he argues that liquidity will pump Bitcoin (BTC). Hayes co-founded BitMEX and now runs the Maelstrom family office.

He has built a reputation for macro calls that tie Fed and Treasury policy moves directly to crypto prices. How A Yen Rescue Becomes Dollar Liquidity The mechanism he describes is real, though its scale is not yet confirmed.

It runs through the Foreign and International Monetary Authorities (FIMA) Repo Facility, a Fed program that lets foreign governments post US Treasuries as collateral for short-term dollar loans, instead of selling those Treasuries outright.

My essay "Yen-quake" walks readers through how Buffalo Bill Bessent plans to manipulate the dollar-yen exchange rate and turn the money printer back on."While a weak, weaker, and weakest yen propelled global asset markets higher over the past decade, like all good things for… pic.twitter.com/4tXwuKMFPg— Arthur Hayes (@CryptoHayes) August 11, 2026 Treasury Secretary Scott Bessent has said Japan holds $1.143 trillion in US Treasuries.