Arthur Hayes, CIO of Maelstrom, predicts Bitcoin could reach $1 million by 2028, emphasising the likelihood of increased U.S. money printing. Speaking at TOKEN2049 in Dubai, he compared current market conditions to Q3 2022 when the Fed raised interest rates. Hayes expects similar monetary interventions to support the economy, reigniting debate over inflation and Bitcoin’s future.
Arthur Hayes, co-founder of BitMEX and currently CIO of Maelstrom, stirred the pot during his speech at TOKEN2049 in Dubai. He boldly claimed that Bitcoin could soar to a staggering $1 million by the year 2028. That’s right—$1 million! Hayes shared this perspective confidently during his keynote address, which wasn’t surprisingly bullish about the broader market, indicating that investors might want to consider going long on various assets, including both cryptocurrencies and traditional stocks.
Hayes didn’t just pull this figure out of thin air. He based his arguments on the notion that the U.S. might have to print additional money. He drew parallels to past quantitative easing measures, likening the current economic conditions to those that occurred throughout the pandemic. To him, it seems almost inevitable that the Federal Reserve will resort to similar tactics to support the economy, which could lead to a surge in Bitcoin’s value.
He further reflected on how market sentiment was back in Q3 of 2022. Fear was rampant then, mostly because the Federal Reserve was hiking interest rates while the crypto market was shaky, pre-FTX collapse. However, amidst that turbulence, the U.S. discreetly pumped $2.5 trillion into the financial system via the repo program, which Hayes argues played a crucial role in stabilising the markets.
Fast forward to now, he anticipates that similar measures might occur again as inflation continues to be a hot topic and central banks face growing pressures. It’s quite the timely revisit for Hayes’s prediction of a million-dollar Bitcoin, with many eyes now watching the market dynamics and possible interventions.
