BitMEX co-founder Arthur Hayes believes one catalyst could help send Bitcoin (BTC) to new all-time highs amid US President Donald Trump’s tariff trade war.

Hayes tells his 674,800 followers on the social media platform X that the weakening of China’s yuan due to central bank money printing may cause investors to move their wealth into Bitcoin as a hedge, similar to what occurred in 2013 and 2015.

“If not the Fed, then the PBOC (People’s Bank of China) will give us the yachtzee ingredients. CNY (Chinese yuan) devalue equals narrative that Chinese capital flight will flow into BTC. It worked in 2013, 2015, and can work in 2025. Ignore China at your own peril.”

Hayes also believes Bitcoin may outperform other digital assets in the near term, stunting the altcoin market.

“Been nibbling on BTC all day, and shall continue. Shitcoins are getting in our strike zone, but I think Bitcoin dominance keeps zooming towards 70%. So we are not gorging at the shitcoin supermarket. Remember, money printing is the only answer they have.”

In a recent interview, Hayes says that once BTC soars well above the $100,000 level again, riskier crypto assets will most likely start to shine. Hayes also says he’s looking for Ethereum (ETH) to start outperforming Solana (SOL).

Bitcoin is trading for $76,533 at time of writing, down 3.5% in the last 24 hours.

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