Bitcoin News Today: Hayes: JPMorgan's QE-Style Lending to Supercharge Bitcoin's Rally

Arthur Hayes, co-founder of BitMEX, has reignited debate over U.S. monetary policy, warning that JPMorgan's $1.5 trillion credit initiative mirrors a new wave of quantitative easing (QE) he dubs "QE for the Poor." The plan, aimed at boosting U.S. industry, defense, and technology sectors, has sparked speculation that large-scale lending could weaken the dollar and fuel Bitcoin's next rally, according to a Cryptotale report.

JPMorgan's "security and resiliency" program, unveiled in October 2025, targets $1.5 trillion in financing over a decade to strengthen supply chains, energy independence, and frontier technologies like AI. The bank has increased its funding commitment by 50% from a prior $1 trillion plan, positioning itself as a key player in America's industrial revival. Hayes, however, argues the move reflects a broader trend of credit expansion akin to past QE rounds, even if executed through private lending rather than central bank asset purchases. "More dollars, more $BTC number go up! QE 4 Poor People in action," he tweeted, highlighting the potential inflationary impact and its implications for Bitcoin.

Hayes' critique aligns with his broader thesis that Bitcoin's price is increasingly tied to global liquidity and monetary policy. In a recent essay, he dismissed the traditional four-year Bitcoin cycle—historically linked to halving events—as obsolete. Instead, he emphasized the role of central banks in shaping liquidity conditions, noting that accommodative policies in the U.S. and China will likely drive risk-on assets like Bitcoin higher. "Listen to our monetary masters in Washington and Beijing. They clearly state that money shall be cheaper and more plentiful," Hayes wrote in a Coindesk article, predicting continued Bitcoin growth amid easing monetary regimes.

The Federal Reserve's expected rate cuts and Japan's potential stimulus under a new prime minister further support this outlook. Meanwhile, China's focus on ending deflation suggests it will avoid liquidity contractions that could harm Bitcoin's price. Hayes also pointed to the approval of spot Bitcoin ETFs as a catalyst for sustained bull markets, breaking from historical patterns.

JPMorgan's pivot into digital assets underscores the bank's alignment with Hayes' vision. The institution recently launched JPMD, a deposit-token platform designed to represent commercial bank money on the blockchain. Unlike stablecoins, JPMD offers institutional clients seamless integration with traditional banking systems, enabling on-chain settlements and cross-border transactions. This move reflects a broader industry shift, as BlackRock and other Wall Street giants increasingly adopt crypto infrastructure. BlackRock, for instance, has partnered with JPMorgan's Onyx blockchain to tokenize assets, signaling a new era of institutional crypto adoption.

Hayes' bullish stance on Bitcoin extends to his predictions for the next market phase. He anticipates a focus on blockchain projects with strong cash flow and profitability, dubbing it "fundamental season." Digital asset treasuries (DATs) are also expected to attract institutional capital, concentrating growth in leading firms like Strategy and Bitmine.

As JPMorgan and other financial titans double down on crypto and credit expansion, the debate over monetary policy's impact on Bitcoin—and the broader economy—shows no signs of abating.