Arthur Hayes says Treasury policy is bullish for Bitcoin

TODAY: Arthur Hayes says Treasury Secretary Scott Bessent is following a playbook similar to Janet Yellen's, using debt issuance and buybacks to influence dollar liquidity.
His thesis is that greater liquidity eventually finds its way into risk assets.
That makes Treasury market mechanics increasingly relevant to the Bitcoin trade, not just bond investors.
For $BTC, Hayes sees the current policy setup as another potential liquidity tailwind.