BitMEX Founder Arthur Hayes Predicts Bitcoin Will Exceed $1 Million by 2028
On May 15, BitMEX founder Arthur Hayes predicted on his personal blog that Bitcoin (BTC) will soar past $1 million before 2028, driven by “devaluation of U.S. debt” and “foreign capital returning to the U.S.” He even urged Europeans, “Quickly transfer your money out, or you won’t be able to access your assets!”
Two Major Drivers for BTC’s Surge: Devaluation of U.S. Debt & Foreign Capital Repatriation
Hayes stated that the future surge of BTC will be propelled by two main drivers:
- Devaluation of U.S. Debt: With the U.S. continuing to print money and expand its debt, foreign governments and investors holding U.S. debt may face asset devaluation.
- Foreign Capital Repatriation: As countries tighten financial controls, funds will be withdrawn from high-risk or regulated countries in search of alternatives that can retain value, with BTC being one of them.
Hayes asserted, “These two key factors will drive BTC to break $1 million before 2028.”
2028 U.S. Election Results Will Have Far-Reaching Implications
Hayes acknowledged that while this prediction may sound extreme—since a single BTC currently priced at $100,000 would need to rise 900% to meet the target—he believes:
“The reason I mention 2028 is that it is the year of the U.S. presidential election. Who comes to power and what policies they promote could completely change the situation.”
Currently, the Trump administration holds a friendly stance toward cryptocurrencies, but a change in power could reverse policies. This means that not only BTC prices but the future of the entire cryptocurrency market is intertwined with political changes.
Concerns Over Potential Upgrades to European Capital Controls
Compared to the U.S., Hayes is more worried about Europe’s future. He bluntly stated that Europe is heading toward a financial control model similar to China’s, but with even less efficiency.
“Even China hasn’t prohibited its citizens from owning Bitcoin, because they know it simply does not work and is ineffective. Those ridiculous governments in Europe are still playing this game. If nothing changes, the European Central Bank will start to find ways to control or ban cryptocurrencies.”
He even used the pun “Euro-poor-peans” to remind everyone to “move your money out now!” Otherwise, one day, funds might be locked in the system.
Long-Term Bullish Sentiment Strengthens; BTC at $1 Million Is Just the Beginning
In fact, this is not the first time Hayes has called for high BTC prices. Since predicting a rebound to $100,000 in April this year, and earlier believing that $70,000 was a short-term low, he has remained bullish throughout. Many financial giants have also joined in optimism:
- Fidelity: Long-term outlook on BTC value significantly increasing.
- MicroStrategy’s Michael Saylor: Believes MicroStrategy’s potential could grow from its current valuation of around $100 billion to $1 trillion, and then to $10 trillion. By 2045, a single BTC is expected to reach $13 million.
As seen in the images below:
The U.S. long-term Treasury bonds (TLT) have halved since 2021, with prices falling from a high of $70 to $35.5, reflecting significant contraction in the bond market. This indicates the market’s serious concerns about future inflation, interest rate hikes, and fiscal deficits, as traditional safe-haven assets are losing credibility.
Image provided by Bloomberg showing U.S. long-term Treasury bonds.
Bold Predictions or Foreknowledge? The Market Awaits
Whether BTC can truly surge to $1 million within just three years remains uncertain. However, it is clear that the current global financial environment is highly volatile, with factors such as the U.S. election, central bank policies, and capital flows potentially leading to dramatic changes.
Hayes’ remarks may be radical, but for many in the crypto community, it represents a collective reaction to “distrust in the traditional financial system.” The next three years will be a true test for Bitcoin to prove whether it can become “digital gold.”
(Coinbase joins the S&P 500, MicroStrategy buys more Bitcoin, Arthur Hayes shouts: Buy everything!)
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and their prices can be highly volatile. You may lose all your principal. Please assess the risks carefully.