Arthur Hayes: The US Will Move Towards Capital Controls, Pushing BTC Price to $1 Million

Arthur Hayes stated that if the U.S. moves towards capital controls, foreign portfolio assets totaling up to $33 trillion might flow out. If in the coming years, 10% ($3.3 trillion) of these foreign portfolio assets flow into Bitcoin, based on the current market price, exchanges hold about $300 billion worth of Bitcoin. If ten times the funds attempt to flood the market, the price increase will far exceed tenfold, pushing the BTC price to $1 million. Of course, if the price soars to $1 million, long-term holders will actively sell their Bitcoin for fiat currency, but as these portfolio assets shift to Bitcoin, an epic short squeeze will ensue.