Arthur Hayes Predicts Bitcoin Could Hit $1 Million by 2028

Arthur Hayes forecasts Bitcoin could reach $1 million by 2028, mainly due to changes in central bank monetary policy and a predicted outflow of investments. He connects this potential surge to upcoming political shifts, claiming that foreign capital moving out of the U.S. and the devaluation of the dollar will propel Bitcoin’s price. Hayes also opines that Trump’s policies are likely to become less friendly towards crypto. His past insights on Bitcoin’s performance during financial crises lend weight to his current predictions.

Arthur Hayes, the well-known crypto entrepreneur and former BitMEX CEO, is making headlines once again with bold predictions about Bitcoin. In a comprehensive blog post that stretches over 7,000 words, Hayes claims Bitcoin could skyrocket to $1 million by 2028. His reasoning? A significant shift in monetary policy from central banks alongside a changing economic landscape. This is big news for those who pay attention to crypto developments—or even just to the broader economic conditions surrounding it.

In his extensive writing, Hayes presents arguments that the potential rise in Bitcoin’s value is largely influenced by an expected influx of foreign investments and the anticipated devaluation of the US dollar. He argues that foreign capital repatriation, coupled with the dwindling value of U.S. Treasuries, will act as the primary drivers behind Bitcoin reaching that lofty price point. Importantly, he has correlated this prediction with the timing of the upcoming presidential election, suggesting a shift in policy could create a more challenging environment for cryptocurrencies if a less crypto-friendly president is elected.

Hayes expressed a somewhat optimistic viewpoint, hinting at a newfound readiness among the American public to endure the consequences of decades of excessive spending and credit reliance. In a rather poetic tone, he wrote about the importance of maximising opportunities for Bitcoin while it still enjoys favourable conditions. It’s certainly a confidence-inspiring sentiment for Bitcoin advocates.

Interestingly, Hayes mentioned his own experiences and views on political shifts. Having been pardoned by former President Donald Trump after pleading guilty to violations of the Bank Secrecy Act in 2022, Hayes speculates that Trump’s policies will evolve from heavy tariffs to capital controls. This, he believes, will further scare investors into moving their capital outside the U.S., ultimately benefitting Bitcoin’s standing as a viable alternative.

He reminisced about how Trump’s earlier actions, such as imposing tariffs on countries like China and Mexico, initially sent waves of uncertainty through markets, including crypto. However, he notes that a recent recovery took place as tariffs were scaled back—yet, foreign investors remain jittery about the future and are seeking safer grounds.

Hayes continues to paint a picture of Bitcoin as the “only lifeboat” for global capital needing to escape the U.S. This position reinforces his earlier stance that loose American monetary policies—which went into overdrive during the COVID-19 pandemic—will keep driving Bitcoin’s success. As interest rates dropped and money supply skyrocketed during the pandemic, the crypto market undeniably benefited significantly.

His logic points to a combination of environmental factors culminating in an expected boom for Bitcoin in the coming years. For many crypto enthusiasts, Hayes’ predictions present a hopeful scenario amidst uncertain economic waters, but whether they materialise remains to be seen.