BitMEX Co-Founder Predicts Bitcoin at $1 Million by 2028

Arthur Hayes, co-founder of BitMEX, recently expressed a bullish outlook for the cryptocurrency sector at the Token2049 conference in Dubai. He emphasized that both the cryptocurrency and equities markets are experiencing a positive sentiment, suggesting that now is an opportune time to adopt an optimistic approach. Hayes further predicted that the U.S. might need to implement a new form of quantitative easing, which could lead to potential price increases in cryptocurrencies.

Hayes drew comparisons to the market dynamics of Q3 2022, highlighting the significant challenges faced during that period, including rising interest rates and the impending collapse of FTX. However, he noted that the U.S. government's intervention, which injected $2.5 trillion into the economy through a buyback strategy, altered market sentiment. Despite initial unrest due to high tariffs initiated by the Trump administration, the subsequent market recovery post-suspension indicates resilience.

Hayes also mentioned Federal Reserve Chairman Powell’s resistance to Trump-era policies. However, he argued that liquidity could still be injected into the market via hedge funds investing in U.S. Treasuries. He projected that Bitcoin could reach an impressive $1 million by 2028, signifying a long-term bullish trend for digital assets.

Hayes' prediction of Bitcoin reaching $1 million by 2028 is based on his analysis of market dynamics and the potential for new forms of quantitative easing. His bullish sentiment is supported by the U.S. government's intervention in the economy and the resilience shown by the market post-suspension of high tariffs. Hayes' projection indicates a strong belief in the long-term potential of digital assets, despite the challenges faced in the past.