Arthur Hayes Predicts Bitcoin Will Reach $1 Million by 2028
BitMEX co-founder Arthur Hayes maintains that Bitcoin's path to $1 million remains viable, despite anticipated volatility. In his essay "Fatty Fatty Boom Boom", he critiques the US economy, drawing parallels between economic decline and rising obesity rates.
A Diseased Economy, a Healthy Hedge
- Hayes argues that excessive money printing has fostered dependence on monetary stimulus.
- He predicts continued inflation and volatility, which could support Bitcoin's value.
- Hayes forecasts Bitcoin reaching $150,000 this year, followed by altcoin rallies.
Capital Controls: The Next Phase
- Hayes warns of potential capital controls as a stealthy political move, replacing tariffs.
- He suggests a 2% annual tax on foreign-held assets could discourage capital flight.
- Increased selling pressure on US assets may lead to a critical rise in Treasury yields.
Asia Dollar Index vs. US 10-year Treasury Bond Yield | Source: Arthur Hayes
Bitcoin: “Lord Satoshi’s” Gift
- Hayes views Bitcoin as a crucial escape from deteriorating financial conditions.
- Repatriation of foreign capital could increase bond volatility and weaken the dollar.
- If 10% of $33 trillion in foreign portfolio assets shifted to Bitcoin, it could trigger significant price increases.
- Hayes anticipates a $1 million Bitcoin price between now and 2028.
Sentiment surrounding Bitcoin remains optimistic, with recent positive US CPI data boosting risk asset momentum. Over 80% of Polymarket voters expect Bitcoin to reach a new all-time high.