“Bitcoin (BTC) will cost $1 million by 2030,” said Arthur Hayes, former BitMEX CEO, one of the industry’s most well-known experts. This is because countries around the world are avoiding the Euro and US dollar.
inblog postIn his latest release on April 27, Arthur Hayes, former CEO of BitMEX, has forecast Bitcoin and gold prices to double.
In terms of sanctions against Russia on Ukraine, Major changes in political science and economic policy are coming, Hayes said.
“While the United States And the EU fights to reduce Russia’s dependence on energy and food. The long-term effects will only damage them and send Bitcoin to the moon.”
The situation is complicated. With inflation hitting its highest level in 40 years before the conflict in Ukraine. and is intensifying from Western sanctions. As Russia is reeling from the suspension of hundreds of billions of dollars in assets from the West.
As China is watching the situation to protect itself from moves aimed at its assets.
Disruption of supply chains, inflation, and now the risk of foreclosure. However, instead of changing production models, Arthur Hayes believes China must find a way to reduce its worst-case scenario.
“It is impossible for China to sell trillions of dollars and euros in assets without destroying the global financial system. And that would hurt both the West and China equally,” he wrote.
“So the path of least destruction for those assets is to end the reinvest in maturing bonds back into the Western financial system. They will do so.”
Hayes listed “storable commodities, gold and Bitcoin” as a potential solution for Beijing. Although such a situation seems extreme. But there should also be an opportunity for China to reverse its stance on issues such as Bitcoin mining.
$1 Million Per Bitcoin Will Be The Result Of A “Disaster Cycle” In Western Monetary Policy In particular, yield curve control (YCC), which is a tool to prevent bankruptcy.
“Extreme inflation will cost Bitcoin $1 million and gold $10,000-$20,000 by the end of the decade.”