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Bitcoin to $1 million? Hayes calls on European savers to act!
Arthur Hayes predicts that Bitcoin could rise to $1 million by 2028 due to global capital movements and US Treasury bonds.
Bitcoin to $1 million? Hayes calls on European savers to act!
Arthur Hayes, the former CEO of the crypto exchange BitMEX, published his optimistic forecast for the Bitcoin price in a recent blog post on May 15th. According to Hayes, Bitcoin (BTC) could reach $1 million by 2028. The assessment could have significant implications given the changing financial landscape.
Hayes cites two main factors for this possible price movement. Firstly, the repatriation of foreign capital, and secondly, the devaluation of US Treasuries. These developments could undermine trust in traditional financial systems and position Bitcoin as an attractive alternative. Hayes sees Bitcoin as a safe haven for investors in this economic situation.
Impact of the US presidential election
Another important aspect of Hayes' forecast is the US presidential election in 2028. He expects that these elections could result in profound changes in financial policy that have a lasting impact on the market. Hayes also warns European savers of increasing capital restrictions and compares European politics to a “less effective form of communism” compared to China.
He is calling on Europeans to withdraw their money as he expects negative developments from the European Central Bank (ECB). This warning comes against the backdrop of potential policies of control and suppression of crypto usage in Europe.
Support from financial institutions
Hayes' bullish prediction is supported by major financial institutions, including Fidelity, who also predict Bitcoin's price will rise over the next decade. In an even broader outlook, Michael Saylor, CEO of Strategy, even predicts a Bitcoin price of $13 million in the distant future.
Despite the speculative nature of these predictions, confidence in Bitcoin as a global asset anchor remains high among certain market participants. The fundamental drivers that could influence Bitcoin price performance include capital flight from traditional asset classes as well as rising US national debt.
Hayes' opinions and forecasts can be seen as an indicator of market sentiment. Given the potential challenges for traditional financial systems, Bitcoin could play an increasingly important role in the coming years.
For further information on Hayes' predictions and the current Bitcoin market, see the articles at Newsbit and The shareholder be read.