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Arthur Hayes Reveals How China Could Help Bitcoin Surge

  • Founder of BitMEX, Arthur Hayes, believes that Chinese stimulus plans could lead to a surge in Bitcoin trading as Chinese investors seek a hedge against the devaluation of the yuan.
  • Hayes asserts that Bitcoin trading is thriving in mainland China despite official bans, as investors use peer-to-peer methods to bypass restrictions.
  • He suggests that the ban on BTC/CNY trading pairs is an attempt by the government to reduce the usefulness of Bitcoin as an indicator of currency devaluation.
  • Hayes predicts that if China goes ahead with its stimulus plans, the value of the yuan will drop and wealthy Chinese investors will turn to Bitcoin as a safe haven.

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