Arthur Hayes Reiterates the End of Bitcoin’s 4-Year Cycle with the Fed's New RMP Funding Strategy

On the 19th, Arthur Hayes, co-founder of BitMEX, analyzed the Federal Reserve Board’s (FRB) newly introduced Reserve Management Purchase (RMP) program, stating that the traditional 4-year cycle of Bitcoin (BTC) no longer applies and has ended. He argued that the RMP has a funding effect essentially equivalent to Quantitative Easing (QE).

Related: Arthur Hayes Claims the End of the 'Bitcoin 4-Year Cycle' Amid US-China Monetary Supply Focus

The RMP, a new policy tool announced at the FOMC meeting on December 10th, involves the FRB purchasing short-term government securities to supply reserves to the banking system.

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