Maelstrom CIO Arthur Hayes claimed that the US needs to increase dollar liquidity and that this will drive the price of Bitcoin (BTC) to $1 million by 2028.
Speaking at the Token2049 event held in Dubai, Arthur Hayes made a bold call to investors. Hayes indicated that he expects an uptrend in both the cryptocurrency and stock markets, stating, "It’s time to take long positions in everything now."
Arthur Hayes emphasized that the US will have to increase dollar liquidity in the near future to support this bullish scenario. He stated that this situation will trigger new highs in cryptocurrencies, especially Bitcoin. According to Hayes, the current state of the US economy resembles the conditions of the third quarter of 2022. During that time, despite major crises such as the central bank's interest rate hikes and the collapse of the FTX exchange, the US injecting $2.5 trillion into the market through its repo program had provided some relief.
Trump and Powell effect
Concerns dominate the markets due to high tariffs imposed by US President Donald Trump on the country’s trade partners. Although Trump recently decided to suspend tariffs for 90 days, there has not yet been a lasting relief in the markets. Hayes also noted that Fed Chairman Jerome Powell does not sympathize with the Trump administration, making it unlikely for the Fed to take an active role in supporting the markets.
However, Hayes believes that this gap will be closed by hedge funds. According to him, hedge funds will indirectly provide liquidity to the markets by purchasing US bonds, and this will significantly increase the value of Bitcoin. Hayes predicts that with the combination of these factors, the price of Bitcoin could reach $1 million by 2028.