Arthur Hayes's latest article: predicts that the United States will "massively print money" leading to a rise in Bitcoin, and his affiliated firm Maelstrom is close to being fully invested.

On January 6th, Arthur Hayes stated in his latest article “Suavemente” that the actions taken by the United States to control Venezuelan oil will ultimately stimulate the economy and suppress oil prices through “massive money printing,” which will lead to a significant rise in the prices of cryptocurrencies led by Bitcoin. Hayes explained that the Trump administration, in order to win the 2026 midterm elections and the 2028 presidential election, must boost the economy (raise nominal GDP) and control inflation, especially gasoline prices. Controlling Venezuela’s oil is aimed at increasing supply and lowering oil prices to appease voters. At the same time, to stimulate the economy, the government will have to coordinate with the Federal Reserve to carry out large-scale deficit spending and credit expansion (i.e., “money printing”). Ideally, if the “hot economy + low oil prices” scenario is achieved, the printing presses will run at full speed, and the excess dollar liquidity will flood into various assets. As a “hard asset” to counteract fiat currency devaluation and liquidity flooding, Bitcoin and major cryptocurrencies will become some of the biggest beneficiaries, with prices soaring as a result. Hayes stated that he believes ZEC will become the beta of the privacy sector, and his family office Maelstrom has already longed for a large amount of ZEC at excellent prices in the third quarter of 2025. The Maelstrom team’s focus is to find at least one altcoin under the theme of privacy that can lead the trend and generate excess returns for their portfolio in the coming years. Currently, Maelstrom has entered 2026 with almost the largest risk exposure. Although the team will continue to invest idle cash generated from various financing deals into Bitcoin, their current holdings of USD stablecoins are very low. To achieve excess returns relative to BTC and ETH, the team will sell BTC to fund privacy positions and sell ETH to fund DeFi positions. In both cases, if the choices are appropriate, the altcoins selected should outperform the market as fiat credit expansion occurs.