This Fed Appointment Could Send Bitcoin To $1,000,000?! Hold Onto Your Hats! 🚀💰

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Well, would you look at that! The U.S. Senate just managed to squeak through the confirmation of Stephen Miran to the Federal Reserve Board by the hair of a 48-47 vote – practically the financial equivalent of balancing a teacup on a giraffe’s nose. This tiny political miracle has sent the markets into a tizzy, not least our very own Arthur Hayes, the dashing co-founder of BitMEX, who’s throwing around Bitcoin forecasts loftier than Aunt Agatha’s soufflé attempts.

According to the oracle of crypto chaos himself, Miran’s induction might just cause the Fed to try out some dazzling new monetary stunts, potentially shooting Bitcoin’s price up to the kind of seven-figure sum that would make Jeeves choke on his Earl Grey.

A Rather Un-Fed-ish Fed Direction?

Confirmed by the Senate on September 16 with a vote closer than a debutante’s corset, Miran has already earned cheers from certain crypto circles – those that tend to prefer their economists with a dash of eccentric optimism. Why the applause? Well, back in 2023, Miran penned the immortal words, “Bitcoin fixes this,” which sounds less like a financial mantra and more like a handyman’s catchphrase. Apparently, this means Bitcoin could be the silver bullet for the dusty old financial system everyone’s tired of.

Given this history, some savvy commentators (or delusionals, depending on your vantage point) reckon Miran could nudge the Fed towards embracing digital assets. Even more eyebrow-raising is Miran’s recent chatter about the Fed’s duty to pursue “moderate long-term interest rates,” which some wagging tongues in the media have christened the Fed’s potential “third mandate.” That’s alongside the old chestnuts of price stability and maximum employment – and if you ask me, it sounds like the Fed just added a dessert to the menu of economic mandates.

Bloomberg reported on the very day Miran squeaked through that bond traders suddenly found themselves re-reading the financial rulebook, as talk of the Fed stepping into the bond market to control yields became the hot new speculative sport.

The Hayes Hypothesis & Financial Follies

Hayes, never one to miss a party, has taken this Fed fiddle as the perfect pretext for predicting a torrent of monetary largesse. Posting on X (because where else?), he spun the notion that this “third mandate” is just a polite way of saying “yield curve control” – which, in plain English, means the Fed sets a preferred price for government IOUs, like a shopkeeper deciding how much to charge for marmalade.

“With Fed board member Miran now confirmed, the MSM is preparing the world for the Fed’s ‘third mandate,’ which is essentially yield curve control,” claimed Hayes.

And come the thunderclap prediction from our crypto pundit:

“YCC -> $BTC = $1m.”

This optimistic thesis dovetails nicely with his wider economic worldview, one he shared over tea (well, a video call) with influencer Kyle Chassé. He declared that the old four-year crypto cycles were as passé as last season’s waistcoats. Instead, a flood of fiscal stimulus and money printing – courtesy of global central banks acting on political whims – will make waves so huge even the hardiest Bitcoin could surf them to shore.

In the meantime, Bitcoin itself has been strutting about like the cat that’s just caught the canary: up 5.1% in a week to a sprightly $117,000, gaining 5.9% over two weeks, though its monthly stroll is a modest 1.7%. It sits tantalizingly close, just 5.6% shy, of its all-time high of $124,457 recorded on August 14 – close enough to tease but far enough to keep the faithful biting their nails.

Will Miran’s arrival mean Bitcoin takes off like a rocket powered by champagne and cheeky grins? The jury’s still out, but with the U.S. leaning into fiscal expansion, a near-certain 25 basis-point rate cut (at 96% probability, according to CME FedWatch), and the institutional crowd eyeing Bitcoin like it’s the last seat at the country club, it’s safe to say Uncle Arthur’s bullish trumpet is sounding rather loud.

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2025-09-17 20:17