Bitcoin may have found another catalyst in an unlikely place: the U.S. Treasury market. Arthur Hayes says a fresh wave of U.S. Treasury liquidity could be a major catalyst for crypto, as Treasury Secretary Scott Bessent’s expanded bond buybacks could increase dollar liquidity and ultimately funnel more money into risk assets, including crypto.

Hayes urged investors to “back up the truck and buy crypto with both hands”. Maelstrom chief investment officer and BitMEX co-founder argued in his Substack essay on Monday that Treasury interventions in the bond market can function as a form of “money printing” by increasing the liquidity available to financial markets.

Why Hayes Sees Treasury Moves As ‘Money Printing’ Machines

Hayes…