Japan’s new Prime Minister, Sanae Takaichi, has announced a sweeping economic stimulus package, including subsidies for electricity and gas, as well as regional grants aimed at easing inflation and boosting wages for small to medium-sized businesses.

Hayes sees stimulus as Bitcoin catalyst

BitMEX co-founder Arthur Hayes interpreted the move as a signal for future monetary easing by the Bank of Japan, suggesting it could drive significant capital flows into Bitcoin.

Hayes commented on social media:

“Translation: let’s print money to hand out to folks to help with food and energy costs. This dynamic may see Bitcoin rise to $1 million, while triggering a rise in the Japanese yen.”

Quantitative easing expectations grow

Hayes has previously predicted that a pivot to quantitative easing (QE) by the Bank of Japan could serve as a major catalyst for Bitcoin’s price.

While the central bank is currently focused on quantitative tightening, analysts expect continued pressure for policy easing as inflation persists.

The Bank of Japan’s next monetary policy meeting is scheduled for October 29, and while a 0.75% interest rate hike is anticipated by early 2026, a shift in stance could come sooner if inflation targets are met.

Bitcoin whale activity increases

Following Bitcoin’s recent dip to a four-month low, large holders—known as whales—are showing renewed optimism.

Blockchain data indicates that several whales have opened sizable leveraged long positions, with one wallet increasing its exposure to $49.7 million.

This activity signals that major investors may be positioning for a potential upside move amid expectations for global monetary easing.

Global context for Bitcoin

With 80% of global central banks already pursuing QE, macro analysts suggest Japan could soon follow, potentially strengthening the broader bull case for Bitcoin.