Arthur Hayes predicts Bitcoin will hit $1 million by 2028

Arthur Hayes, chief investment officer of Maelstrom and co-founder of BitMEX, reiterated his forecast that Bitcoin (CRYPTO:BTC) could reach $1 million by 2028 during a keynote speech at Token2049 in Dubai.  

Hayes argued that the U.S. will need to increase dollar liquidity through measures similar to quantitative easing, which he believes will drive up crypto prices.  

He compared the current market environment to the third quarter of 2022, a period marked by fears over central bank rate hikes and the collapse of FTX (CRYPTO:FTT).

At that time, the U.S. intervened by injecting $2.5 trillion via its repo program, which helped stabilize markets.  

Hayes noted that today, concerns about the economy persist, especially amid trade tensions caused by U.S. President Donald Trump's tariff policies.

The initial tariff announcements caused market declines, though a temporary pause provided some relief.  

He also mentioned that Federal Reserve Chair Jerome Powell is unlikely to directly intervene to support markets, partly due to political differences with Trump.

However, Hayes expects relative value hedge funds to step in by buying Treasury debt, increasing liquidity indirectly.  

“It’s time to go long everything,” Hayes said, referring to both cryptocurrencies and stocks.  

At the time of reporting, the Bitcoin price was $94,809.32.