Bitcoin (BTC) Will Reach $1,000,000 Amid Major Move From Central Banks, According To BitMEX Founder Arthur Hayes

BitMEX co-founder CEO Arthur Hayes is forecasting a massive Bitcoin (BTC) rally and a major pivot from the world’s central banks.

Reacting to the news that the People’s Bank of China has reduced the Reserve Ratio Requirement (RRR) by 0.25%, Hayes says he’s targeting a $1 million price tag for Bitcoin.

Hayes believes China’s move backs his thesis that more government intervention and infusions of capital are coming.

The Reserve Ratio Requirement is the amount of reserves that a commercial bank must maintain as a percentage of their deposits.

When the requirement is lowered, the amount that commercial banks can lend or invest rises.

In a new essay on the subject, Hayes says that the loosening of monetary policy is undoubtedly on the way.

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