Arthur Hayes: Bitcoin Expected to Reach $1 Million by 2028
Arthur Hayes reiterated his optimistic prediction for Bitcoin's price at the Token2049 conference in Dubai, suggesting that Bitcoin could rise to $1 million by 2028. Hayes pointed out that the United States will need to increase dollar liquidity, akin to quantitative easing policies, which will drive up cryptocurrency prices. He compared the current market situation to the third quarter of 2022, when the market was concerned about factors such as central bank rate hikes, but the US injected $2.5 trillion through a repurchase plan. Hayes stated that even if Federal Reserve Chairman Jerome Powell may not directly intervene in the market, arbitrage hedge funds might increase liquidity by purchasing government bonds, indirectly spurring market recovery. He advised investors to "go long on everything," including cryptocurrencies and stocks.
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