Arthur Hayes Reaffirms Bitcoin’s Path to $1 Million by 2028

The first cryptocurrency could see its value reach $1 million by 2028. This prediction was reaffirmed by former BitMEX CEO Arthur Hayes during the Token2049 conference in Dubai, as reported by The Block.

According to Hayes, a key factor in this potential rise will be the increase in dollar liquidity, which the United States will inevitably resort to in order to stabilize its economy.

“It’s time to establish long positions across all assets,” Hayes remarked, highlighting both digital currencies and stocks.

He drew a comparison to 2022, when the markets were shaken by tightening monetary policy and the collapse of the FTX exchange. However, the U.S. regulator increased the money supply, providing a much-needed boost to the sector.

Currently, Hayes believes the principal threat comes from tariffs that Trump imposes on U.S. trading partners, which have triggered declines in stock indices.

Nevertheless, the expert is confident that even if the Federal Reserve, headed by Jerome Powell, doesn’t act directly, hedge funds will take matters into their own hands by purchasing government bonds. This, he asserts, will lead to an increase in the money supply and subsequently drive cryptocurrency prices higher.

It’s worth noting that in April, Hayes hinted at expectations for Bitcoin prices to surpass $100,000, pointing to the Treasury Department’s repurchase of U.S. Treasury bonds as a primary catalyst behind this potential growth.