Arthur Hayes says $60B Fed FIMA cap would be his next Bitcoin trigger
BitMEX co-founder Arthur Hayes says a $60B FIMA repo cap would signal more Fed liquidity, prompting him to add risk assets.
Arthur Hayes, co-founder of BitMEX, says a $60 billion limit on a Federal Reserve lending facility would be the next liquidity trigger he wants to see before increasing his exposure to risk assets such as Bitcoin. He outlined the view in an essay published Aug. 11.
The facility in question is the Foreign and International Monetary Authorities (FIMA) Repo Facility, which lets approved foreign central banks and official institutions temporarily raise U.S. dollars by selling U.S. Treasuries to the Fed and agreeing to repurchase them later.
What Hayes is watching
Hayes argues that growth in FIMA repo usage could reflect dollar funding stress abroad, prompting the Fed to expand its balance sheet. He identifies a $60 billion reported cap as a level that, once reached, would signal a new round of dollar liquidity — a historically supportive factor for Bitcoin and other risk assets.
- Hayes's essay focuses on the FIMA Repo Facility, launched in 2020.
- He describes the $60 billion figure as a threshold that would make him "more aggressive" in adding risk positions.
- The comment comes as markets watch for shifts in Fed policy and global dollar conditions.
Hayes's statement is his personal view and does not represent official market guidance. The actual influence of FIMA usage on Bitcoin's price remains speculative, as many factors affect digital asset valuations.