BitMEX co-founder Arthur Hayes is leaning bullish on Bitcoin (BTC) as surging liquidity conditions boost the value of the flagship crypto asset.
In a new interview on the White Crypto YouTube channel, Hayes says an increase in the global money supply will act as a bullish catalyst for BTC and crypto.
[adinserter block="1"]“I think it’s a great time to be in the crypto ecosystem because we have sort of this reflation happening across the world. More fiat money chasing a scarce asset and the bull market’s going to continue. And I think it’s going to be a fun party.”
According to Hayes, Bitcoin could go up by about 10x from the current level by January of 2029.
“I think by the end of Trump’s presidency, so end of 2028, Bitcoin will be around $1 million. Or we’ll have crossed $1 million. It might be lower than that at that point but I think we’ll get to that nominal figure within the next three to four years.”
Bitcoin is trading at $103,045 at time of writing.
On the US dollar’s prospects in the face of increasing money supply, the Maelstrom Fund CIO says,
“I think the dollar depreciates against gold, the dollar depreciates against Bitcoin. US Treasuries are probably the worst thing to own versus any other sort of financial asset out there, as they need to devalue because there’s too much out there.”
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