Former BitMEX CEO Arthur Hayes has issued a new Bitcoin price outlook, stating that the leading digital asset will be “markedly higher” than its current price of around $113,000 by 2028, though not as high as some ultra-bullish forecasts suggest.
Hayes on money printing and bitcoin
In his latest blog post, Hayes attributes his optimism to renewed U.S. monetary expansion under the Trump administration.
He contends that President Trump will seek to influence the Federal Reserve to enable substantial money printing, a move Hayes believes will benefit Bitcoin. Hayes wrote:
“And therefore, I proclaim with extreme confidence regarding money printing, these crackers ain’t playin’.”
Credit growth and price predictions
Hayes analyzed historical correlations between credit growth and Bitcoin price, noting that if the same relationship held, Bitcoin could theoretically reach $3.4 million by 2028.
However, he tempered expectations, stating:
“Do I think Bitcoin will rise to $3.4 million by 2028? No, but I believe the number will be markedly higher than the ~$115,000 that it trades at today.”
Debate around bullish forecasts
Hayes has previously suggested a $1 million target for Bitcoin by 2028, motivated by factors like international capital controls and shifting liquidity conditions.
His recent reiteration of bullish outlooks has drawn both support and criticism, with Bitwise’s Andre Dragosch dismissing the liquidity argument as a “useless banana.”
