Its Time To Go Long Everything: Arthur Hayes Predicts Bitcoin Mega Pump To $1 Million By 2028
Former BitMEX CEO Arthur Hayes is confident that Bitcoin will reach seven figures by 2028.
In a keynote speech at Token2049 in Dubai, Hayes said that the United States government will need to increase dollar liquidity, and this will help propel Bitcoin to as high as $1,000,000 in three years.
Bitcoins Route To $1 Million
Maelstrom CIO Arthur Hayes has shared a bullish view of the crypto market.
Its time to go long everything, he said in his keynote speech, referring to both crypto assets and equities.
To defend his outlook, Hayes cited his frequently repeated statement that the U.S. will have to embark on quantitative easing and print more money, a move he thinks will prop up crypto prices.
The Bitcoin OG compared the present state of the market to the third quarter of 2022. He pointed out that there were various reasons to be rattled by the state of the market back then, like the central bank raising interest rates. In the cryptosphere, it was just before the implosion of Sam Bankman-Frieds empire. Yet, the U.S. intervened and injected $2.5 trillion into the economy through its repo program.
Similarly, there are concerns in the present market after U.S. President Donald Trump unleashed sweeping tariffs, which have roiled global markets in recent weeks. The initial announcement triggered a crypto market downturn, though prices rebounded shortly afterward after Trump said he would allow a 90-day pause on the implementation of reciprocal tariffs against most countries.
According to Hayes, the Federal Reserve chairman, Jerome Powell, is not a fan of Trump and is thus unlikely to intervene to help fix the markets. But, he argued that even if the banking system wont directly finance the repair, value hedge funds would do it via Treasury buybacks. The BitMEX co-founder believes these hedge funds could boost liquidity by purchasing more debt.
Dont worry, Bitcoin is going to $1 million by 2028, Hayes posited.
Dont worry, Bitcoin is going to $1 million by 2028,
The worlds oldest and largest cryptocurrency was trading hands around $95,080, up 0.1% over the past 24 hours, according to crypto data provider CoinGecko.
While $1 million seems like a stretch from the assets current price, other prominent players in the industry have voiced similar ultra-bullish outlooks. Cathie Woods Ark Invest has even taken it a step further, forecasting the token will reach $2.4 million by 2030.
Text source: ZyCrypto
