BitMEX Co-Founder Arthur Hayes Bullish on Bitcoin as Liquidity Boosts Crypto Value
BitMEX co-founder Arthur Hayes is leaning bullish on Bitcoin (BTC) as surging liquidity conditions boost the value of the flagship crypto asset. In a recent interview on the White Crypto YouTube channel, Hayes expressed his optimism about the future of Bitcoin and the overall crypto ecosystem.
Bullish Catalyst for Bitcoin
Hayes believes that the increase in the global money supply will act as a bullish catalyst for Bitcoin and other cryptocurrencies. He stated, “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.”
Predictions for Bitcoin’s Future
According to Hayes, Bitcoin could potentially increase by about 10 times from its current level by January 2029. He mentioned, “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.”
Current Bitcoin Price
Bitcoin is currently trading at $103,045 at the time of writing, showcasing its potential for growth in the coming years.
US Dollar’s Prospects
On the US dollar’s prospects in the face of increasing money supply, Hayes believes that the dollar will depreciate against assets like gold and Bitcoin. He stated, “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.”
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Image Source: Midjourney