Arthur Hayes, co-founder of BitMEX, has predicted that significant global economic changes will lead to a substantial increase in the global money supply, causing the value of Bitcoin and other cryptocurrencies to soar to new heights.
In a recent interview, Hayes explained that in order to become a manufacturing leader, the United States will likely need to inject trillions of dollars into its economy, directly competing with China. He believes that other global powers will adopt a similar strategy.
Hayes pointed out that China, for example, must stimulate its domestic markets, particularly the property market, and restore consumer confidence, which will require a surge in the supply of yuan.
Meanwhile, Europe faces its own challenges, including the transition to green energy and the need to achieve economic stability without relying on Russian energy or Chinese goods, which will necessitate additional money printing.
According to Hayes, these pressures will compel nations worldwide to expand their monetary supply, driving up the value of assets like Bitcoin. As governments grapple with the challenge of balancing growth and debt, he anticipates that this shift could propel the price of Bitcoin to an astounding $1 million, with $250,000 seen as an early milestone.