Bitcoin to $1M by 2028 as Hayes tells Europe to ’get your money out’

Key points:

• US Treasurys and foreign capital “repatriation” make a recipe for $1 million BTC, says Arthur Hayes.

• Europeans face tightening capital controls, inviting a recommendation to take back control of personal funds.

• Seven-figure BTC price targets are already gaining traction.

Bitcoin (BTC) will shoot to $1 million in just three years, thanks to global macroeconomic shifts, Arthur Hayes forecasts.

In his latest blog post released on May 15, the former CEO of crypto exchange BitMEX doubled down on his sky-high BTC price prediction.

Hayes: $1 million Bitcoin due “between now and 2028”

Bitcoin has two strong tailwinds that will help propel it to seven digits in a few years.

For Hayes, shifting capital controls worldwide and US Treasury “devaluation” means that Bitcoin will become the go-to safety net for investors everywhere.

He summarized:

“Foreign capital repatriation and the devaluation of the gargantuan stock of US Treasurys will be the two catalysts that will power Bitcoin to $1 million sometime between now and 2028.”TLT US exchange-traded fund indexed in gold, Bitcoin (screenshot). Source: Arthur Hayes/Substack

While that date may appear arbitrary and demand 900% BTC price gains, Hayes argued that the financial landscape could change in an instant, depending on the next US governmental administration.

“I say 2028, because that is when the next US presidential election occurs and who knows what type of politician will win and what policies they will enact,” he said.

While the presidency of Donald Trump has enacted various pro-crypto policies, this could begin to reverse if a shift in government were to occur. In Europe, meanwhile, an increasing desire to control and even suppress crypto use by the general population signals a growing divergence.

“Not even China has banned the private ownership of Bitcoin because it knows it’s counterproductive and impossible,” Hayes wrote. 

“For you Euro-poor-peans, whose governments practice a less effective form of communism than China, don’t expect the European Central Bank (ECB) to learn this lesson without trying. Therefore, get your money out now!”Betting on a seven-figure breakout

As Cointelegraph reported, Hayes has not been shy about predicting both short-term and longer-term BTC price expansion in the years to come.

Related: Bitcoin looks ‘ridiculous’ as bulls attempt $2T market cap flip — Analyst

In April, he foresaw the return to $100,000, and before that, joined those seeing the mid-$70,000 zone as a likely local bottom.

Multimillion-dollar targets for the next decade include those of major financial players such as Fidelity Investments.

Michael Saylor, CEO of business intelligence firm Strategy, which has the world’s largest Bitcoin treasury of any public company, said this week that he envisaged a $10 trillion valuation.

“My forecast for 2045 is 13 million a Bitcoin,” he added.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.