Arthur Hayes: If Trump and Bessent implement yield curve control, Bitcoin could rise to $3.4 million

ChainCatcher news, Arthur Hayes stated in his latest article that the core of the re-industrialization plan proposed by Buffalo Bill Bessent is to take control of the Federal Reserve and implement Yield Curve Control (YCC). This means that short-term interest rates are determined by the Interest on Required Bank Reserves (IORB) and the discount window rate, while long-term rates are suppressed through the expansion of the Federal Reserve's balance sheet to buy bonds.

He deduced that if Trump takes control of the Federal Reserve in 2026 and implements this plan, the total new credit scale from the Federal Reserve and commercial banks could reach $15.2 trillion. Based on the Bitcoin price increase during the COVID-19 pandemic, the theoretical peak price of BTC could reach $3.4 million by 2028.