Arthur Hayes, the controversial co-founder of the Crypto derivatives exchange BitMEX, is out with some very bullish predictions for Bitcoin. He expects the cryptocurrency’s price to reach $1 million by the end of 2028. Hayes is leaning bullish on Bitcoin, citing the depreciation of the U.S. dollar and surging liquidity conditions as key factors. Currently, Bitcoin is trading at $103,045.
Hayes is convinced that the U.S. dollar will lose value to both gold and Bitcoin. He voiced strong concerns on U.S. Treasuries, warning that they are a bad investment with required devaluation.
"I think the dollar depreciates against gold, the dollar depreciates against Bitcoin. US Treasuries are probably the worst thing to own versus any other sort of financial asset out there, as they need to devalue because there's too much out there." - Arthur Hayes
Hayes expects Bitcoin to be at least ten times its current level by January 2029. This projection assumes the continued build out of liquidity and a continued bull market of the expansive crypto ecosystem.
"I think by the end of Trump's presidency, so end of 2028, Bitcoin will be around $1 million. Or we'll have crossed $1 million. It might be lower than that at that point but I think we'll get to that nominal figure within the next three to four years." - Arthur Hayes
Hayes further expressed positivity regarding the current cryptocurrency market. He focused on a global reflation as the lead driver of today’s bull market. Inflationary fiat money made very scarce assets even scarcer.
"I think it's a great time to be in the crypto ecosystem because we have sort of this reflation happening across the world. More fiat money chasing a scarce asset and the bull market's going to continue. And I think it's going to be a fun party." - Arthur Hayes
