Bitcoin Ready To Hit $1 Million; Arthur Hayes

Bitcoin(BTC), the world’s leading cryptocurrency, has been on a remarkable bull run since late 2020, reaching new all-time highs above $60,000 in 2021. But how high can it go? According to Arthur Hayes, the former CEO of BitMEX, one of the largest crypto derivatives exchanges, Bitcoin could hit $1 million by 2030.

In his latest blog post, Hayes lays out his bullish case for Bitcoin based on his analysis of the current economic and political situation in Europe and the United States. He argues that both regions face a looming crisis due to their unsustainable debt levels, fiscal deficits and monetary policies.

Hayes predicts that the European Union will collapse under its own weight as its member states struggle to cope with the social and financial consequences of COVID-19. He also expects that the United States will face a similar fate as its dollar loses its status as the global reserve currency and its banking system becomes insolvent.

"Kaiseki" is an essay about how the #banktermfundingprogram is Yield Curve Control by another name. Get ready for infinite money printing and $BTC $1 million.https://t.co/nQ5G2dlg1G pic.twitter.com/R5ZkoI0OUC

— Arthur Hayes (@CryptoHayes) March 16, 2023

In this scenario, Hayes believes that Bitcoin will emerge as the ultimate store of value and medium of exchange for people who want to preserve their wealth and freedom. He claims that Bitcoin is superior to gold because it is digital, scarce, portable and censorship-resistant.

Hayes also points out that Bitcoin has a fixed supply of 21 million coins, meaning its value will only increase as demand grows. He estimates that if Bitcoin captures 10% of global wealth by 2030, it will be worth $1 million per coin.

However, Hayes acknowledges that this vision is not guaranteed and that Bitcoin faces many challenges and risks. He urges Bitcoin enthusiasts to spread the word about its benefits and use it for everyday transactions instead of just holding it as a speculative asset.

He also warns that governments and central banks will not give up their power easily and will try to regulate or ban Bitcoin if they feel threatened by it. He advises Bitcoiners to be prepared for such scenarios and to resist any attempts to undermine their sovereignty.

The Fed has created a 2-tier banking system. Banks who lent to the Govt and banks who lent to real people and businesses. The former got a bailout, the later are getting rekt. Expect a blanket bank asset gtee by end of next week or else … pic.twitter.com/ChD7aC55Ct

— Arthur Hayes (@CryptoHayes) March 17, 2023

Hayes concludes his post by saying that he is optimistic about Bitcoin’s future and hopes to see it reach $1 million in his lifetime. He invites his readers to join him on this journey and to enjoy the ride.

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