Arthur Hayes, co-founder of BitMEX, has suggested that the Federal Reserve and the Bank of Japan will be pivotal in driving the price of Bitcoin to $1 million. He argues that the complex interactions over the Japanese yen will compel both central banks to engage in extensive money printing to support Japan’s currency, inadvertently inflating global asset prices. Hayes highlights that the dollar-yen exchange rate is currently the most crucial global economic variable, influencing not just economic policies but potentially escalating asset prices including Bitcoin. His analysis suggests that efforts to stabilize the yen amidst competitive devaluation trends, particularly with China, will lead to significant monetary interventions that could favorably impact Bitcoin’s value. Read more at Decrypt