November 17 2025
Arthur Hayes, the former CEO of BitMEX, has made another remarkable prediction about the future of Bitcoin. He believes the price of the largest cryptocurrency could reach $1 million by 2028. Hayes is known for his bullish views on the crypto market, and in an extensive 7.000-word blog post, he explores a variety of themes, including economics, politics, and philosophy. His prediction doesn’t come entirely out of the blue; he points to a favorable macroeconomic environment that could drive the price.
Hayes explains that several economic factors are impacting Bitcoin. According to him, there could be an exodus of foreign investment, coupled with a devaluation of the dollar. “The repatriation of foreign capital and the devaluation of the vast supply of U.S. Treasuries will be the two catalysts that will propel Bitcoin to $1 million sometime between now and 2028,” he writes. He places this prediction in the context of the upcoming presidential election, when there is a chance that a less crypto-friendly president will come to power.
Hayes believes that public opinion in the US may be adjusting to the economic consequences of years of financial policy, which could put Bitcoin in the spotlight. “Now is the time to capitalize on Bitcoin’s rise,” he says. He also points to the fact that the Trump administration is likely to move from tariffs to capital controls, something that could spook investors and cause them to flee with their capital.
According to Hayes, the Federal Reserve will be forced to continue printing money as a result of the capital outflow. “If the foreigners don’t want to supply the dollars, the government will do it by turning on the printing presses,” he adds. This favorable policy for Bitcoin could pave the way for the cryptocurrency to thrive. Despite a previous global trade war that began under Trump, he believes that Bitcoin will ultimately reap the rewards of all this.
Hayes argues that Bitcoin is the ultimate "lifeboat" for global capital seeking to leave the US. He has previously argued that Bitcoin will benefit from US monetary policy, which is currently generating a lot of money. This belief was confirmed during the COVID-19 pandemic, when the central bank lowered interest rates to zero and injected a huge amount of dollars into circulation, leading to a sharp rise in the crypto market.
What is the main reason for Hayes' prediction about Bitcoin?
Hayes believes macroeconomic factors such as the repatriation of foreign investments and the devaluation of the dollar could push Bitcoin's price to $1 million.
When does Hayes think Bitcoin could reach this price?
He predicts that Bitcoin could potentially reach $1 million between now and 2028.
What role does the Federal Reserve play, according to Hayes?
Hayes argues that the Federal Reserve will be forced to continue printing money to accommodate capital outflows from the US, which will ultimately benefit Bitcoin.
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
