Bitcoin may rise to $20,000 on the back of emergency measures of the U.S. Federal Reserve, said Arthur Hayes, CEO of the BitMEX crypto-derivative exchange.
"Quantitative easing forever. When the Fed returns to faith, wait for Bitcoin at $20,000," he wrote, commenting on an article by Zero Hedge entitled "The Fed has lost control of rates again.
On Tuesday, the Federal Reserve Board conducted a liquidity operation against the backdrop of a sharp increase in the interbank repo rate, taking this step for the first time since the 2008 crisis. The decision of the Fed to change or maintain the key rate will be announced this Wednesday.
At the same time, Travis Kling, the manager of the cryptographic fund, supports Hayes' opinion and claims that certain characteristics of Bitcoin make it a mechanism of insurance against manifestations of monetary policy of central banks and governments not only in the U.S., but also in Europe.
"This is a very interesting time from a global macro position. Cryptocurrencies seem to have been created for this very time," he told CNN's audience, calling for a distinction to be made between "a non-state, global, decentualized, fixed emission digital storage medium," which he said was Bitcoin, and other digital assets.
According to Kling, "today the world needs more Bitcoin than yesterday, and tomorrow it will need more than today.
"It is becoming clear that central banks are racing against each other to devalue their currencies. What are they devaluing against? Against assets with proven deficits. In this respect, Bitcoin even surpasses gold as the hardest currency in human history," he added.