Key Takeaways
Japan’s new Prime Minister Sanae Takaichi announced economic stimulus measures to curb inflation pressures.
Arthur Hayes says this could trigger massive money printing, pushing Bitcoin (BTC) to $1 million.
The yen weakened after Takaichi’s announcement, reinforcing expectations of a Bank of Japan QE pivot.
Bitcoin whales have opened new leveraged long positions, signaling renewed bullish sentiment.
Hayes Sees Japan’s Stimulus as Catalyst for a $1M Bitcoin
Japan’s new Prime Minister, Sanae Takaichi, unveiled a sweeping economic stimulus package on Tuesday, pledging subsidies for electricity and gas, regional grants, and support for small and medium-sized enterprises (SMEs) to offset rising costs and boost wages.
The measures aim to ease the burden of inflation on households but, according to BitMEX co-founder Arthur Hayes, could lead to a fresh wave of money printing — ultimately benefiting Bitcoin.
“Translation: let’s print money to hand out to folks to help with food and energy costs,” Hayes wrote on X.
He added that this fiscal shift could send Bitcoin’s price to $1 million while sparking renewed volatility in the Japanese yen.
Bitcoin was trading at $107,984 at the time of writing.
Japan’s “Pro-Stimulus” Shift Fuels Talk of BOJ Quantitative Easing
Following Takaichi’s announcement, the Japanese yen fell to a one-week low, as markets interpreted her pro-stimulus stance as a possible precursor to the Bank of Japan (BOJ) resuming quantitative easing (QE).
Hayes previously predicted that a BOJ QE pivot would mark the start of Bitcoin’s next parabolic rally, drawing parallels to prior liquidity-driven surges.
QE — or the large-scale purchase of government bonds by central banks — increases money supply and lowers borrowing costs, typically boosting risk assets like Bitcoin and equities.
According to Reuters, BOJ officials are not expected to reverse their current quantitative tightening (QT) stance until inflation stabilizes around 2%, though analysts say Takaichi’s fiscal push could accelerate a policy shift.
“Takaichi’s pro-stimulus stance could soon push Japan into easing — as 80% of global banks already pursue QE,”
macro resource Milk Road Macro noted in an Oct. 8 X post.
Whales Turn Bullish After Bitcoin’s Drop to $104,000
Meanwhile, onchain data suggests renewed whale activity.
Blockchain tracker Lookonchain reported that several large investors opened new long positions on Hyperliquid following Bitcoin’s brief drop to $104,000 last week.
Wallet “0x3fce” increased its Bitcoin long position to $49.7 million, while wallet “0x89AB” opened a 6x leveraged long worth $14 million, signaling bullish accumulation.
Market analysts view these positions as a sign of rising confidence that Bitcoin’s price could rebound sharply in response to global liquidity expansion led by Japan and other major economies, according to Coinetelgraph.
