You know how some couples share a joint bank account?
Now, imagine a couple where one partner keeps spending more than they bring in – fancy dinners, new gadgets, whatever.
At first, the other partner covers it. But eventually the hole gets so big that it becomes an issue for both of them.
That’s basically what Arthur Hayes, a well-known Bitcoin billionaire and ex-CEO of the trading platform BitMEX, says is happening in Europe right now.
Here, France is the one overspending, and the one that’ll have to pick up the tab is the European Central Bank (ECB).
The fun part in this situaysh: Hayes thinks this could send people running toward Bitcoin 😏
In a recent blog post, Hayes discussed the French government’s growing debt – and the growing difficulty of financing it.
Normally, that would be France’s problem, but because France is one of the biggest countries in the eurozone, it becomes the European Central Bank’s problem, too.
The ECB can’t let France fall apart because that would risk breaking the entire euro system.
According to Hayes, this leaves the bank no choice but to make the money printer go brrr. In other words, print a ton of new euros to cover the cracks.
And here’s where Bitcoin enters the story.
Hayes says that once people realize the ECB is inflating the euro supply, they’ll wanna move their wealth into something that can’t be printed endlessly.
His pick is obvious: Bitcoin, which has a capped supply of 21M coins.
Matter of fact, we’ve seen this kind of thing play out before in countries like Argentina or Turkey: when their local currencies started losing value, people started moving their savings into US dollars or crypto to protect their purchasing power.
So, he says that same behavior could show up in Europe, too. Except there would be a difference: scale. Europe is one of the biggest economies in the world.
If that kind of switch happened there, it would directly drive massive new demand for Bitcoin and could change the market on a global level.
And this consequence… ay, I mean, it wouldn’t be too shabby 😏
Now you’re in the know. But think about your friends – they probably have no idea. I wonder who could fix that… 😃🫵
Spread the word and be the hero you know you are!
