Summary
- Arthur Hayes, CIO of Maelstrom and BitMEX co-founder, predicts Bitcoin could reach $1 million by 2028.
- He cites U.S. dollar liquidity expansion as a key driver behind the next bull market.
- At Token2049 Dubai, Hayes compared current conditions to post-FTX recovery in 2022.
- Bitcoin recently surged to $95,460, marking a two-month high.
- Other analysts anticipate Bitcoin to hit $200K in 2025, while total crypto market cap has hit $1.88 trillion.
- U.S. trade and monetary policy uncertainty may further fuel the crypto rally.
Arthur Hayes’ Bold Bitcoin Forecast
At the Token2049 conference in Dubai, Arthur Hayes—Chief Investment Officer at Maelstrom and co-founder of BitMEX—made headlines with his latest forecast: Bitcoin could hit $1 million by 2028. Hayes attributes this bold prediction to growing signs of U.S. monetary expansion, which he believes will flood markets with liquidity and push digital assets into a massive bull run.
“This is going to be a monetary expansion of a magnitude we’ve never seen,” Hayes stated during his address, referring to the potential macroeconomic triggers that could ignite a crypto boom.
Liquidity: The Fuel Behind the Forecast
Hayes’ forecast hinges on the idea that rising U.S. dollar liquidity will again stabilize both traditional and digital markets—much like it did in the third quarter of 2022. At that time, the U.S. injected $2.5 trillion into the economy following the FTX collapse, which provided a crucial backstop for financial systems.
He believes a similar pattern is unfolding, where increased capital flow and under-supplied digital assets like Bitcoin will create the perfect storm for a rally.
Current Market Momentum
Bitcoin’s recent performance supports this outlook. The cryptocurrency recently surged past $95,460, its highest price in over two months. At the same time, the total crypto market capitalization rose to $1.88 trillion, while daily trading volumes jumped 13% to $28 billion, suggesting renewed investor interest.
Other market analysts are slightly more conservative, projecting Bitcoin to reach $150K–$200K by 2025, though all signs point to continued growth in the medium term.
Geopolitical Risk and Economic Uncertainty
Adding to the mix is ongoing economic tension in the U.S. Former President Donald Trump’s proposed tariffs on key trading partners have already introduced significant volatility. While these tariffs are temporarily on hold, the mere possibility of their implementation has stirred investor anxiety.
Hayes warned that should Trump return to office, Federal Reserve Chairman Jerome Powell might hesitate to intervene, leaving hedge funds to step in and inject liquidity into the system through U.S. debt purchases.
Conclusion: Is the $1M Bitcoin Dream Realistic?
With a confluence of rising liquidity, supply-constrained digital assets, and mounting global uncertainty, Arthur Hayes believes the stage is set for an unprecedented Bitcoin bull run.
Whether or not Bitcoin reaches $1 million by 2028, one thing is clear—market forces are aligning for a potentially explosive growth phase in the crypto sector.