Arthur Hayes Says Now Is the Moment to Invest in Bitcoin and Altcoins

Bitcoin advocates have received a significant endorsement from a notable figure in the cryptocurrency field.

At the ongoing Token2049 conference in Dubai, Arthur Hayes, co-founder of BitMEX, reaffirmed his bold forecast that Bitcoin could reach $1 million by 2028.

A Daring Forecast

The CIO of Maelstrom urged a crowded audience, “Now is the time to invest in everything,” encouraging attendees to invest in Bitcoin as well as stablecoins and traditional markets. For him, this goes beyond mere speculation; it reflects a broader economic reality.

His enthusiasm stems from shifts in monetary policy and the economic turbulence in the United States. Hayes anticipates a resurgence of money printing by the Federal Reserve, driven by significant fiscal deficits, tariff-related disruptions, and weakening bond markets, all of which could propel Bitcoin’s value significantly.

He likened the present market climate to the tumultuous third quarter of 2022, a time characterized by widespread anxiety. That period was marked by aggressive interest rate hikes from the Federal Reserve and significant failures within the crypto arena, including the collapse of FTX. However, the government’s discreet injection of $2.5 trillion into the repo market played a crucial role in stabilizing risk assets, including cryptocurrencies.

Hayes perceives a similar trend developing now, particularly in light of President Donald Trump’s recent advocacy for extensive tariffs on U.S. trading partners. This move initially created significant economic disturbances, causing markets to plummet before a brief period of recovery. Specifically, Hayes believes that Trump’s America First approach will similarly unleash a wave of liquidity.

His perspective is bolstered by apprehensions that, despite its hawkish posture, the U.S. central bank may ultimately have to provide support to Treasury markets by either halting its quantitative tightening or lowering bank reserve thresholds.

The Federal Reserve and banking institutions are compelled to act to maintain a functional Treasury market, implicating further monetary easing, as he humorously noted in a recent post referencing the well-known meme associated with excessive money printing.

If these predictions come to fruition, Hayes anticipates that Bitcoin will respond in kind, experiencing another rapid price surge.

Bitcoin’s Resilient Growth Potential

While the former BitMEX CEO’s insights provide a compelling narrative, recent Bitcoin price movements have added to this narrative’s strength. Currently, Bitcoin is trading at $94,569, reflecting a modest 0.4% decline over the past day.

Over the past week, the increase has been slight at around 1%. However, the broader upward trend becomes more apparent when viewed over longer periods, with the cryptocurrency increasing 13.0% in the past fortnight and 15.4% throughout the last month.

Year-over-year, Bitcoin has surged by 49.2%, highlighting sustained bullish momentum despite various economic challenges.