Bitcoin’s Promising Future: Arthur Hayes Predicts $750,000 to $1 Million Value by 2026
Arthur Hayes, co-founder of cryptocurrency exchange platform BitMEX, envisions a bright future for Bitcoin, at least for one last dance. Despite the central banks worldwide adopting monetary tightening measures, he believes that Bitcoin could potentially reach a value between $750,000 and $1 million by 2026.
Hayes anticipates that a crash and an extremely severe economic depression will follow, wiping out a significant amount of wealth from the global landscape.
Key Factors for Significant Rise
Hayes has identified several elements that could propel the price of Bitcoin to these stratospheric levels:
- Monetary crisis: If interest rates fluctuate, especially due to government spending, Bitcoin could benefit. In this context, Hayes envisions BTC at $70,000 by the end of 2024, partially supported by the upcoming Bitcoin halving event scheduled for April 2024.
- Launch of Bitcoin Spot ETFs: Hayes anticipates that major asset managers, particularly in the United States, Europe, and possibly Hong Kong, are preparing to launch several exchange-traded funds focused on Bitcoin, marking the beginning of a true bullish market for the cryptocurrency.
Alongside these predictions, Hayes also highlights the potential of other assets such as NASDAQ and S&P 500, suggesting that they too could reach historic highs.
China’s Stance on Cryptocurrencies
Discussing China’s position on cryptocurrencies, Arthur Hayes believes that China’s main concern is maintaining stability and order in society. Environmental concerns, particularly regarding Bitcoin mining’s energy consumption, also influence the hardline approach adopted by China.
Regarding Hong Kong, Arthur Hayes sees the city as a potentially major player in the crypto ecosystem due to its unique political and technological situation.