Former CEO of the cryptocurrency exchange BitMEX and CIO of Maelstrom Arthur Hayes warned about the fall of the crypto market in early 2025. Then he talked about Bitcoin recovery to $110 thousand. Now he considers the $1 million mark to be achievable.
«It’s time to go long everything,» he said during a speech at Token2049 in Dubai, referring to cryptocurrencies and stocks.
Hayes outlined his repeatedly voiced thesis that the US will have to actually print more money in a form similar to quantitative easing (QE). In his opinion, this will eventually drive up cryptocurrency prices. Hayes compared the current market situation to the third quarter of 2022. Back then, there were many reasons to be afraid of the market — for example, because of the Fed’s rate hike. This was on the eve of the FTX crash. However, the US intervened and launched a $2.5 trillion repo program.
Hayes also noted that Federal Reserve Chairman Jerome Powell is not a Trump supporter and is unlikely to come to the aid of the markets this time. But hedge funds will do so by buying bonds. They may start buying more debt securities, which will increase liquidity. Therefore, Hayes believes that the price of bitcoin could rise to $1 million by 2028.
Source: The Block
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