bitcoin‘s next cycle may lead to unprecedented price growth, at least according to BitMEX founder Arthur Hayes.
In a new interview withYouTuber Tom BilyeuHayes shared his bullish outlook on the price of bitcoin, projecting a staggering valuation of between $750,000 and $1 million for the leading cryptocurrency by 2026.
During the interview, Hayes discussed several factors contributing to his optimistic bitcoin price forecast, including limited bitcoin supply, the outlook for bitcoin spot ETFs in major regulated markets, and geopolitical uncertainty.
Hayes further emphasized the fundamental aspect of bitcoin‘s fixed supply, limited to 21 million coins. He believes this shortage will drive greater demand as more investors look to acquire a piece of the limited supply.
Still, it’s worth noting that Hayes placed these comments within a broader bullish macroeconomic environment in which he projected all asset prices would rise.
“I think it will be the biggest financial market boom we have ever seen in human history. bitcoin will be ridiculously priced, Nasdaq will be ridiculously priced, S&P will be ridiculously priced. Choose your stock sector,” he said.
At the heart of his analysis is the idea that the central bank’s monetary policy will force investors to buy assets as high interest rates become undesirable again.
“As we get to some kind of financial disruption and people realize that real rates are negative, if governments nominally increase to 10%, 5%, 6%, people in the market will start to buy other things ” Hayes said. It’s one of those things.”
While Hayes’ $1 million price projection for bitcoin by 2026 may seem ambitious, his short-term projections were more moderate, suggesting he sees bitcoin stuck in the $30,000 range for this year, with the possibility priced at $70,000 by 2024.
This is more in line with other industry analysts, who see the fog of the ongoing Sam Bankman-Fried trial as a major obstacle.
That said, in the end, Hayes’ bullish outlook serves as a reminder of the current evolution of the cryptocurrency landscape and bitcoin‘s potential to play a major role in reshaping the future of finance.
