At the TOKEN2049 conference in Dubai, Arthur Hayes — CIO of Maelstrom and co-founder of BitMEX — made headlines with a striking prediction: Bitcoin could surge to $1 million by 2028. Taking centre stage at the event’s inauguration ceremony, Hayes urged investors to “go all in on everything,” highlighting his steadfast commitment to the future of Bitcoin.

Why Hayes Remains Bullish?

Hayes’ bullish outlook is rooted in his belief that the United States will be forced to print more money to stabilise its economy, just as it did during previous periods of quantitative easing. He pointed out that when faced with financial instability, governments historically resort to liquidity injections — a trend he expects will continue, benefiting risk assets like Bitcoin and traditional equities alike.

Echoes of 2022: A Lesson from the Past

Drawing parallels to Q3 2022, Hayes recalled a period when fear gripped markets amid aggressive interest rate hikes and crypto sector turmoil, particularly before the FTX collapse. Despite the chaos, the U.S. Treasury discreetly injected $2.5 trillion into financial markets through its repo programme, ensuring liquidity behind the scenes. Hayes suggested that similar “quiet bailouts” could occur again, underpinning his bullish stance on Bitcoin.

Inflation Pressures and Central Bank Challenges

As inflation concerns mount and central banks face increasing pressure, Hayes sees little alternative to continued monetary easing. In such an environment, scarce assets like Bitcoin could soar dramatically. With traditional monetary policy tools proving less effective, Hayes’ vision of Bitcoin reaching $1 million within the next few years has returned to the forefront — louder and more convincing than ever.