Arthur Hayes, co-founder of BitMEX, has predicted that significant global economic changes will lead to a substantial increase in the global money supply, ultimately driving the value of Bitcoin and other cryptocurrencies to new heights.
In a recent interview, Hayes explained that in order for the United States to become a manufacturing leader, the country 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 also pointed out that China, for example, needs to boost 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 in transitioning to green energy and achieving economic stability without relying on Russian energy or Chinese goods, leading to the need for more money printing.
According to Hayes, these pressures will compel nations around the world to expand their monetary supply, resulting in an increase in the value of assets like Bitcoin.
As governments grapple with balancing growth and debt, Hayes anticipates that this shift could drive the price of Bitcoin to an astounding $1 million, with $250,000 considered an initial milestone.