BitMEX co-founder Arthur Hayes believes Bitcoin could hit the $1 million mark within the next three years—and it all comes down to economic policy and political cycles.
Speaking at the TOKEN2049 conference in Dubai, Hayes argued that a potential second Trump presidency would bring a wave of aggressive money printing, especially around the 2026 midterm elections.
According to Hayes, this anticipated liquidity injection would aim to stimulate the economy and boost political favor, much like previous cycles that saw loose monetary policy correlate with Bitcoin rallies.
He also pointed to escalating tensions between the U.S. and China as a possible trigger for more Federal Reserve intervention.
Should trade negotiations break down, Hayes expects policymakers to respond with stimulus-driven strategies designed to project economic strength—a move he believes would further fuel Bitcoin’s ascent.
“This time,” he noted, “Bitcoin isn’t just reacting to markets—it’s positioned to thrive on the structural shift in global power and monetary expansion.”
In his view, the mix of geopolitical friction and inflationary policy could send Bitcoin to levels well beyond anything seen in previous cycles.
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