Arthur Hayes Long Call on ENA: Price to Surge to $1

Arthur Hayes, a high-profile figure in the cryptocurrency and financial markets, has made a bold prediction that certain digital assets, including ENA, could see a price surge in 2026. The Maelstrom CIO tied this outlook to a broader macroeconomic thesis centered on U.S. geopolitical actions and monetary policy.

In a January 5 blog post, Hayes analyzed how U.S. access to oil in Venezuela could help manage inflation and enable continued credit expansion. He argued that this dynamic supports asset classes like Bitcoin and select cryptos that historically rise with increased liquidity.

Hayes also emphasized that gasoline prices are a key economic metric for U.S. voters. He suggested that maintaining stable energy costs is central to political success, which in turn fuels the need for policies that sustain liquidity. He sees this as a favorable backdrop for ENA and other digital assets.

Why Did This Happen?

Arthur Hayes' recent predictions are grounded in his belief that U.S. political and economic strategies will continue to prioritize nominal GDP growth. He argues that re-election incentives drive policymakers to avoid inflation while still expanding credit.

The BitMEX co-founder also pointed to the role of oil in this equation. He contended that U.S. access to Venezuelan oil reserves could help keep energy costs low. This, in turn, supports continued liquidity creation without triggering inflation.

Hayes is not alone in this view. Other analysts have also linked lower oil prices to favorable conditions for digital assets. For instance, BlockByte suggested that reduced oil prices could drive Bitcoin and similar tokens higher.

How Did Markets React?

Market reactions to Hayes' latest thesis have been mixed. While some investors have taken his predictions as a signal to increase exposure to digital assets, others remain skeptical given his previous overestimations. For example, in 2025, Hayes projected Bitcoin to reach $200,000 by year-end, but the asset closed around $87,000.

Nevertheless, some industry observers believe the macroeconomic environment does favor digital assets. The U.S. government's recent move to purchase $200 billion in mortgage-backed securities has been seen as a potential catalyst for risk assets.

Arthur Hayes himself has linked such large-scale liquidity measures to bullish outcomes for Bitcoin and ENA. He suggested that such policies could lead to a surge in digital asset prices, potentially reaching $1 million for Bitcoin.

What Are Analysts Watching Next?

Investors and analysts are closely monitoring several key indicators. The 10-year U.S. Treasury yield is a primary focus, as it reflects market expectations for inflation and monetary policy. Hayes has suggested that rising yields could signal a reversal in the current accommodative stance.

Oil prices also remain a critical variable. If U.S. access to Venezuelan oil is limited or delayed, inflationary pressures could resurface, complicating the current bullish narrative.

In addition, new U.S. legislation addressing cryptocurrency regulation is under consideration. The proposed bill aims to clarify the regulatory landscape by defining crypto tokens and assigning jurisdiction to the CFTC. This development could affect ENA and other digital assets by influencing market adoption and investor confidence.

Arthur Hayes' latest macroeconomic thesis continues to shape investor sentiment in the digital asset space. While his predictions remain controversial, they highlight the ongoing interplay between geopolitics, monetary policy, and digital asset performance. Market participants are closely watching how these dynamics evolve in the months ahead.