BCGAME - Free 5BTC Daily Bonus!- Bitcoin could hit $1 million by 2029
- Arthur Hayes sees global liquidity as the driver of BTC
- Dollar may lose value against Bitcoin and gold
Former BitMEX CEO and current Maelstrom Fund Chief Investment Officer Arthur Hayes shared an optimistic view on the future of Bitcoin. In a recent interview with the White Crypto channel, the executive highlighted that the current environment of expanding global liquidity should directly benefit the cryptocurrency market in the coming years.
According to Hayes, the increase in the issuance of fiat currencies in several economies is creating ideal conditions for the appreciation of scarce assets such as Bitcoin.
“I think it’s a great time to be in the crypto space because we have a kind of reflation going on around the world. More fiat money chasing a scarce asset and the bull market is going to continue. And I think it’s going to be a fun party,” he said.
Hayes projected that the cryptocurrency could reach the $1 million mark by the end of 2028. He associates this jump in value with a possible victory of Donald Trump in the next US presidential election and the extension of economic stimulus policies.
“I believe that by the end of Trump’s presidency, which is the end of 2028, Bitcoin will be around $1 million. Or we will have surpassed $1 million. It may be less than that at that point, but I think we will reach that nominal value in the next three to four years,” he said.
Hayes also shared his views on the weakening of the US dollar in the face of increased money supply. He believes that assets such as gold and Bitcoin are likely to appreciate significantly against the dollar. “I think the dollar depreciates relative to gold, the dollar depreciates relative to Bitcoin. US Treasuries are probably the worst asset to own compared to any other type of financial asset because they need to depreciate because there is so much of them in circulation,” he explained.
At the time of publication, the price of Bitcoin was quoted at US$103.697, up 1% in the last 24 hours.
