Hayes: Chinese Tariff Retaliation May Spark New Wave of Crypto Capital

By: blockbeats|2025/04/08 09:45:03

Original Title: China's tariff response may mean more capital flight to crypto: Hayes

Original Author: Martin Young, CoinTelegraph

Original Translation: Deng Tong, Golden Finance

BitMEX co-founder Arthur Hayes said that China's response to the U.S. full trade tariffs may lead to capital flight to Bitcoin and cryptocurrency.

"If not the Fed, then the PBoC will be providing us the material for a Yahtzee," Hayes said on X on April 8, referring to the catalyst needed to reignite the cryptocurrency market bull run.

Hayes stated that if the Renminbi depreciates, "capital will flow into Bitcoin," adding that "it worked in 2013, 2015, and will work in 2025 as well."

Bybit co-founder and CEO Ben Zhou stated that China will attempt to lower the Renminbi exchange rate in response to tariffs, adding that historically, a Renminbi devaluation has been favorable for Bitcoin.

Renminbi vs. USD has weakened since 2022. Source: Google Finance

In August 2015, China devalued the Renminbi against the USD by nearly 2%, marking the largest single-day drop in decades. During this time, Bitcoin did attract some investor interest, although the direct cause-effect relationship remains debated.

When the Renminbi exchange rate broke the symbolic 7:1 mark against the USD in August 2019, Bitcoin's price also surged during the same period. Some analysts believe Chinese investors were using Bitcoin as a hedge, as the asset saw a 20% rise in the first week of that month.

In 2019, cryptocurrency asset management firm Grayscale noted the Renminbi depreciation and attributed it as one factor stimulating the Bitcoin market.

Avoiding Currency Control and Wealth Preservation

According to analysts, affluent Chinese citizens may have used cryptocurrency in the past to preserve wealth, shielding it from government control and evading domestic capital controls and restrictions.

People also believe that currency devaluation will undermine people's trust in central banks and government financial management, prompting them to turn to decentralized alternatives such as Bitcoin.

On April 7, U.S. President Trump threatened to impose additional tariffs on China, to which China responded by stating that it would "fight to the end."

The Chinese Ministry of Commerce stated in a declaration: "If the U.S. implements tariff escalation measures, China will resolutely take countermeasures to defend its own interests."

Original Article Link

-- Price

The Ethereum Foundation has released this non-technical introductory report aimed at government officials, central banks, regulators, and corporate decision-makers, explaining how Ethereum works, how it is governed, how it differs from other blockchains, and how institutions and governments are alre...

Portugal 2-1 Croatia: Ronaldo's 20-Year Knockout-Stage Drought Ends With a Debt Finally Collected

Portugal beat Croatia 2-1 in the 2026 global football championship's knockout rounds as Ronaldo scored his first-ever knockout-stage goal, Gonçalo Ramos struck a stoppage-time winner, and VAR ruled out a late equalizer for offside.

Bitcoin Price Prediction July 2026: Will BTC Recover to $70K or Drop Below $55K?

Bitcoin price prediction for July 2026: Can BTC recover to $70,000 or fall below $55,000? Explore ETF flows, key support levels, Fed outlook, and our Bitcoin forecast.

A South Korean company that learned the strategy of hoarding coins, from a bull market to delisting?

When the overall momentum of the Korean stock market is strong, this batch of cryptocurrency concept stocks, branded as the "Korean version of Strategy," finds itself at a crossroads of life and death.

Where is Zhao Changpeng's billion-dollar investment going? YZi Labs' investment landscape fully revealed

Zhao Changpeng's billion-dollar new "family office" YZi Labs investment landscape revealed: 70% of the funds are committed to the crypto ecosystem, while 30% are cross-industry bets on AI and biotechnology, launching a new capital experiment in the post-Binance era.

Wosh: Inflation has cooled in recent weeks, AI is reshaping the economy, and forward guidance has lost its necessity

Federal Reserve Chairman Waller clearly stated at the ECB forum that the Fed will abandon forward guidance on interest rates, with future decisions relying entirely on real-time economic data. He noted that inflation risks in the U.S. have decreased over the past four weeks, but the ultimate impact ...

The most secretive AI winner

A century-old company that sells toilets and produces MSG has seen its stock price soar by "positioning" core materials for AI chips. This article clarifies the explosive opportunities for domestic substitution of semiconductor materials in the A-share market.

Looking at Stripe's ambitions and the future of stablecoins from OUSD

Stripe enters the stablecoin network battle with OUSD, a comprehensive look at the third paradigm evolution of digital dollars and the new infrastructure for global payments in the AI era.

From Pump.fun to Collector Crypt: Has Solana's income throne changed hands?

The revenue from consumer applications on Solana is no longer solely reliant on meme coin issuance, but is gradually spreading to more consumption scenarios.

Dan Bin's latest speech: Don't miss out on a great era

Don't let hesitation trap your steps, and don't let shortsightedness waste the passing years—make sure not to miss this magnificent era that belongs to us.

Robinhood launches its own blockchain, no longer wanting to be a tenant on others' chains

While laying off employees and issuing bonds, it is the predictive market business that temporarily supports the income.

Why Tokenized Stocks Are Booming in 2026 While Crypto Is Still Struggling

Why are tokenized stocks booming while the crypto market struggles? Explore the latest 2026 data, institutional adoption, and what it means for traders.

Former ByteDance employee's account: How I started with two Pinduoduo hard drives and made six times the profit with Seagate to achieve financial freedom?

A programmer from a big tech company bought hard drives on Pinduoduo and, following clues, managed to accurately capture the sixfold rising stock Seagate using the "finding daily anomalies + 13F institutional verification" framework, making a wild profit of $400,000 and achieving financial freedom.

A pre-announced harvesting case: After the cryptocurrency price dropped by 99%, the public chain Saga exited to transform into AI

True failure often isn't a single price drop, but rather a pricing mechanism that repeatedly rewards those who tell stories while repeatedly punishing those who believe in the stories.