Arthur Hayes, co-founder of BitMEX, anticipates a continued rise in Bitcoin
103,619due to the increase in international money supply. In a recent statement on the White Crypto YouTube channel, Hayes remarked that current liquidity conditions might lead to a rise in the value of cryptoassets, particularly Bitcoin. He related his views to the global expansion of money supply.
Developments in Global Money Supply
Hayes pointed out that the global money supply is increasing and this might lead to a higher inclination toward scarce assets. According to his assessment, investors turning to decentralized digital assets might be seeking to escape the depreciation seen in traditional currencies. Rising inflationary pressures and loose monetary policies of central banks are speculated to trigger an increased demand for digital assets.
Hayes commented, “It’s a great time to be in the crypto ecosystem right now because there’s a sort of re-inflation in the world. More fiat money is chasing a scarce asset and I believe the bull market will continue. I think it will be an exciting process.”
Seven-Digit Price Target for Bitcoin
Arthur Hayes also shared his expectations for Bitcoin. He expressed that, according to his forecasts, Bitcoin could experience a significant increase in value over the next 3 to 4 years. He particularly mentioned that by the end of 2028, regardless of the outcome of the current presidential term in the US, Bitcoin has the potential to reach a price of one million dollars.
“I expect Bitcoin to be around 1 million dollars by the end of 2028 when Trump’s presidency ends. It might be less at that point, but I believe we will reach this nominal price level in the next three to four years.”
At the time of the statement, Bitcoin’s current price was approximately $103,045. Hayes, who makes long-term forecasts, suggested that crypto assets will demonstrate unique performance in the coming years.
Assessing the US Dollar and Financial Assets
Discussions also arose about the dollar’s value following liquidity increases. Hayes claimed that the US dollar could lose value against traditional safe havens like gold and digital assets. Regarding US Treasury bonds, he argued that they should be the least preferred among existing financial assets because of potential value losses due to high supply.
“I believe the dollar will lose value against gold, and the dollar will lose value against Bitcoin. US Treasury bonds could be the worst option among existing financial assets as they are bound to lose value due to excessive supply.”
Market experts interested in the trajectory of crypto markets note that statements like these create expectations among investors and can influence market volatility. As with any high-risk financial investment, it is important to closely monitor developments in the market and conduct the necessary analyses. Due to the uncertainties inherent in investments, it is advised to avoid conclusive predictions and directions. Investors are encouraged to conduct their own research and operate with a professional perspective.
