Arthur Hayes, co-founder of BitMEX, is feeling optimistic about Bitcoin (BTC) as increasing liquidity conditions drive up the value of the leading cryptocurrency.
During a recent interview on the White Crypto YouTube channel, Hayes expressed his belief that the expanding global money supply will serve as a bullish factor for BTC and the crypto market.
“I believe this is a fantastic time to be a part of the crypto ecosystem due to the reflation occurring worldwide. With more fiat money flowing towards a limited asset, the bull market is set to continue. It’s going to be an exciting ride.”
Hayes predicts that Bitcoin could see a tenfold increase from its current level by January 2029.
“I anticipate that by the end of Trump’s presidency, so by the end of 2028, Bitcoin will reach or surpass $1 million. It may be slightly lower by then, but I believe we will hit that milestone within the next three to four years.”
Bitcoin is currently trading at $103,045 at the time of writing.
Regarding the outlook for the US dollar amidst the growing money supply, the CIO of Maelstrom Fund remarks,
“I foresee the dollar depreciating against gold and Bitcoin. US Treasuries are likely the least favorable option compared to other financial assets, as they will need to devalue due to oversupply in the market.”
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