Source: Cointelegraph
Original: “Arthur Hayes: Bitcoin (BTC) Will Reach $1 Million by 2028, Europe Should 'Get Money Out' Now”
Key Points:
Bitcoin (BTC) is predicted to soar to $1 million in just three years due to global macroeconomic changes, according to former BitMEX CEO Arthur Hayes.
In a recent blog post published on May 15, the former CEO of the cryptocurrency exchange BitMEX reiterated his high price prediction for BTC.
Bitcoin has two major tailwinds that will drive its price to seven figures in just a few years.
For Arthur, changes in global capital controls and the "devaluation" of U.S. Treasury bonds mean that Bitcoin will become the preferred safety net for investors around the world.
He concluded:
“The repatriation of foreign capital and the devaluation of the massive U.S. Treasury bond stock will be the two catalysts driving Bitcoin to reach $1 million at some point between now and 2028.”
While this date may seem arbitrary and requires a 900% increase in BTC price, Arthur believes that the financial landscape could change instantly due to changes in the next U.S. government administration.
He continued: “I say 2028 because that is the time of the next U.S. presidential election; who knows what kind of politicians will be elected and what policies they will implement.”
While U.S. President Donald Trump implemented various pro-cryptocurrency policies during his term, these policies could begin to reverse if there is a change in government. Meanwhile, in Europe, there is an increasing tendency to control or even suppress the general public's willingness to use cryptocurrencies, showing a growing divide.
Arthur wrote that banning private ownership of Bitcoin is counterproductive and impossible, stating:
“For you 'poor' people in Europe, don’t expect the European Central Bank (ECB) to learn this lesson without trying. So, get your money out now!”
As Cointelegraph reported, Arthur is unreserved in predicting both short-term and long-term growth for BTC prices in the coming years.
In April, he envisioned Bitcoin returning to $100,000, and prior to that, he joined those who believe that around $75,000 could be a local bottom.
The multi-million dollar targets for the next decade include predictions from major financial players like Fidelity Investments.
Michael Saylor, CEO of business intelligence firm Strategy—which holds the largest Bitcoin reserves of any publicly traded company—stated this week to mainstream media that he envisions Bitcoin's market cap reaching $10 trillion.
He added: “My prediction for 2045 is that Bitcoin will reach $13 million.”
Related: Jim Chanos Takes a Contrarian Bet Against Bitcoin (BTC) and Strategy
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