#fiat

The charismatic founder of BitMEX has revealed his vision for the market. Spoiler: he moves liquid fiat money from treasury bills to cash and intends to invest it all in high-risk assets (bitcoin and other crypto, of course). Key takeaways from Arthur Hayes' post: 📌 S&P500 is up 40% in 3 months; 📌 Fed balance sheet will drop $100 billion every month; 📌 The market will get an extra $500 billion out of the Treasury General Account (TGA), which will accelerate inflation; 📌 When the money runs out (sometime in July), Congress will vote to increase the debt ceiling; 📌 The market will end up flooded with unbacked debt liabilities; 📌 The world's banks will be forced to resort to printing more money (this process has already begun). "The party has begun!", Arthur concludes.

The company has started the process of obtaining state licenses for regulation and development of software for the integration of embedded payments. Earlier, Elon Musk said that Twitter should be transformed into an "everything app" with messaging, payments, and commercial functions. According to these plans, the company registered with the US Treasury as a payment processor in November 2022. Per Musk's wishes, the payment system is initially designed for fiat. While its structure will provide for future cryptocurrency features. Mask's favorite, Dogecoin, reacts violently to the news. Investors, just in case, pumped the MASK token (why would anyone invest in bitcoin, after all).