Bitcoin (BTC) bulls just got a major vote of confidence from one of crypto’s most provocative minds.
Speaking at the ongoing Token2049 conference in Dubai, BitMEX co-founder Arthur Hayes doubled down on his audacious prediction that Bitcoin will hit $1 million by 2028.
A Bold Prediction
The Maelstrom CIO declared to a packed audience, “It’s time to go long everything,” urging them to pile into the flagship cryptocurrency as well as other stablecoins and traditional markets alike. For him, this isn’t just an investment thesis; it’s a macroeconomic inevitability.
His optimism is based on a cocktail of monetary policy shifts and economic instability in the United States. The crypto investor sees a likely return to money printing by the Federal Reserve spurred by fiscal deficits, tariff-fueled turmoil, and deteriorating bond markets that could dramatically inflate BTC’s value.
He compared current market conditions to the third quarter of 2022, a period that had been rife with fear. Back then, headlines were dominated by aggressive Fed rate hikes and cascading failures in the crypto sector, including the fall of FTX. However, the government’s stealthy injection of $2.5 trillion into the repo market helped keep risk assets, including crypto, alive.
Hayes sees a familiar pattern unfolding now, especially with President Donald Trump’s recent push for sweeping tariffs on U.S. trade partners. The move initially triggered economic shockwaves that sent markets into freefall before a three-month pause offered some relief. In the analyst’s view, Trump’s America First strategy will similarly unleash a liquidity storm.
His sentiments are reinforced by concerns that the U.S. central bank, despite its hawkish stance, will be forced to support Treasury markets indirectly, by either halting quantitative tightening or reducing bank reserve requirements.
“The Fed and banking system must step up to ensure a well-functioning Treasury market, which means Brrrr,” he quipped in a recent X post referencing the viral meme synonymous with rampant money printing.
Should these forecasts materialize, Hayes expects Bitcoin to respond as it has before, with a parabolic rally.
Bitcoin’s Steady Climb with Room to Run
While the former BitMEX CEO’s vision is providing the narrative fuel, BTC’s recent price action has offered the kindling. At the time of writing, BTC was trading at $94,569, a slight 0.4% drop over the past 24 hours.
Over the last seven days, the uptick has also been quite small at about 1%. However, the broader uptrend is more visible across longer time frames, with the cryptocurrency rising 13.0% in the past two weeks and 15.4% over the last month.
On a year-to-year basis, Bitcoin has gained 49.2%, signaling long-term bullish momentum even against macro headwinds.
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