Former BitMEX Co-Founder Arthur Hayes Predicts Bitcoin’s Price Surge to $750K

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Arthur Hayes, former co-founder of crypto exchange BitMEX, has made a bold prediction about the future of Bitcoin. Despite ongoing monetary tightening by central banks worldwide, Hayes thinks Bitcoin could shoot up to $750,000 to $1 million by 2026.

Arthur Hayes Predicts Bitcoin at $70,000 by 2024

On September 12, Arthur Hayes shared his insights into Bitcoin’s potential trajectory. He voiced his concerns about the substantial debt of the U.S. government and the Federal Reserve raising interest rates since March 2022.

Hayes outlined several key factors that could send Bitcoin to these sky-high prices. 

First, he thinks there might be a money crisis where interest rates drop or go up, but not as fast as the government spends money. 

In this situation, Hayes says Bitcoin could be worth about $70,000 by the end of 2024, partly because of the upcoming “Bitcoin halving event,” which is set to happen in April 2024. 

Hayes also sees something big coming up. He predicts prominent asset managers in the U.S., Europe, and maybe Hong Kong will soon launch multiple exchange-traded funds (ETFs) focused on Bitcoin. According to Hayes, this event would begin a genuine bull market for Bitcoin.

Meanwhile, Hayes isn’t just talking up Bitcoin. He believes other money things like NASDAQ and S&P, like big clubs of stocks, will also hit their highest points ever.

Bitcoin has been doing well lately. It’s gone up about 29% since March. Even though it’s bumped into the $30,000 price mark and didn’t quite make it, it’s still trading higher than before, when its price was around $24,000.

Arthur Hayes on Upcoming China’s Crypto Approach

Hayes further addressed the country’s stance on cryptocurrencies, mainly focused on China.

According to Hayes, China’s big concern is ensuring everything stays calm and normal in society. They worried people would go crazy buying and selling cryptocurrencies, which might cause trouble. Environmental considerations related to Bitcoin mining and energy consumption have also influenced China’s stringent measures.

Hayes also talked about Hong Kong, a place with its unique situation. He thinks Hong Kong could become pretty important in the world of cryptocurrencies because of some political and tech stuff.

So, Arthur Hayes believes that Bitcoin is heading for big things, even though central banks are tightening money rules and there are some hiccups with government regulations.