Arthur Hayes Urges Investors to Stay Long on Stocks, Gold and Bitcoin After Treasury Buyback Expansion

BitMEX co‑founder Arthur Hayes warned investors that staying out of risk assets would be unwise after a sudden market rally. Speaking with Crypto Banter host Ran Neuner, Hayes linked the rally to the U.S. Treasury’s move to double the size of its debt buybacks, an action he described as a form of yield‑curve control that injects liquidity into the market.

Treasury’s buyback expansion and yield‑curve control

The Treasury announced an expansion of buybacks targeting longer‑dated securities. By increasing purchases, the Treasury effectively capped yields, similar to previous interventions by the Treasury under Janet Yellen. The 10‑year Treasury yield had been testing the 5 % level, a threshold many view as unsustainable for U.S. debt servicing.

Hayes’ bullish call

Hayes said, “You’re an idiot if you’re not long stocks, long gold, long Bitcoin, long the market.” He argued that when governments suppress bond yields, private capital moves toward scarce assets such as equities, gold and Bitcoin. He drew a parallel to the Bank of Japan’s decade‑long yield‑curve control experiment.

Market reaction

• 30‑year Treasury yields fell.
• Bitcoin rose above key moving averages, approaching $70,000.
• Equities posted gains.
• Altcoins turned sharply green.

Hayes’ positioning

Hayes said he has been “risk‑on” for weeks, holding significant exposure to Bitcoin and Ethereum, and adding other assets such as Athena and Ethery. He emphasized that staying under‑allocated to equities, gold and Bitcoin is the riskier choice in the current liquidity‑driven environment.

Outlook

Hayes expects continued government interventions to defend debt sustainability, which he believes will keep the bias toward higher asset prices. He noted that the Federal Reserve’s steady‑rate stance and potential additional tools, such as expanded repo facilities, support this pro‑asset environment.