Maelstrom’s Investment Director and former head of the BitMEX crypto exchange, Arthur Hayes, is sticking to his previous forecasts regarding the crypto market. He remains confident in the long-term growth of Bitcoin’s price-believing it could reach as high as $1 million. Hayes shared his thoughts on this matter at the large-scale Token2049 conference, which is currently taking place in Dubai. When Bitcoin will be worth a million dollars During a conference speech, Arthur Hayes urged listeners to ”actively shop” for multiple digital assets, including Bitcoin. To support his point of view, he repeated the argument that the U.S. will eventually have to print money again , essentially resorting to the equivalent of quantitative easing. According to Hayes, this will inevitably lead to an increase in the price of cryptocurrencies. However, in such a case, more money will appear in circulation, which will be at the disposal of investors and at least partially redirected into various assets - including digital ones. The former head of BitMEX drew a parallel between the current market situation and the third quarter of 2022. Back then, there were many reasons for fear, from the US Fed rate hike to the impending collapse of the FTX trading platform, which eventually did happen. Nevertheless, the US stepped in and injected $2.5 trillion through a repurchase program into the economy. The market is also facing serious concerns over the state of the economy today, driven by US President Donald Trump's statements about the need to pass high tariffs on the country's trading partners. Markets crashed after the new customs policy of the government, although they also partially recovered amid a 90-day pause on tariffs for a number of countries. Hayes also noted that Fed Chairman Jerome Powell is not a Trump supporter and is unlikely to intervene to stabilize markets. However, even if the banking system will not directly finance the recovery, it will be done by hedge funds through the purchase of government bonds. Hayes added that such funds are likely to buy more debt, thereby increasing liquidity. Amid these arguments, Hayes stated that Bitcoin's price could very well reach the $1 million mark by 2028 . Today, the major cryptocurrency is trading at about $95,000. If Hayes' forecast becomes a reality, the value of BTC will increase more than tenfold in the next few years. The main factor of cryptocurrency market growth Another Token 2049 speaker is Matthew McDermott, head of digital assets at Goldman Sachs. During the conference, he stated that clear regulation that allows large institutional investors to enter the digital asset ecosystem at scale will be key to its growth. For the industry to scale, you need large institutions to be able to deploy capital across the market. According to him, various lobbying groups are making efforts to form an adequate regulation of the crypto market in the US. He said that the current direction of US policy in this area contributes to the global development of the market, attracting new players and accelerating growth. McDermott added that two stemcoin bills being drafted could also play a key role. If regulation makes it easier for financial institutions to adopt stablecoins, it will accelerate the widespread use of digital currencies. We are watching this closely. As a financial giant, Goldman Sachs is interested in uniform rules of the game and the right to participate in all aspects of the crypto market - even though it is already active in this area. According to McDermott, the bank is involved in crypto trading. In particular, we are talking about derivatives, futures, options and ETFs. Work is also underway on tokenization and the conversion of traditional financial products to round-the-clock trading. Goldman has invested in several crypto projects, especially related to blockchain infrastructure. In addition, the bank has developed its own digital asset platform, the Digital Asset Platform, which it is currently preparing to spin off into a separate business. We have strategic partners helping us to create additional value. We are confident that we will successfully separate the platform next year. McDermott concluded that with clear regulatory rules, it will be easier to implement tokenization on a large scale. He noted that Goldman is actively working on this area, especially in the context of money market funds, and client demand is clearly present. The bottom line Together, all these factors create ideal conditions for the growth of the crypto market in 2025. Therefore, investors should not be frightened by the fact that BTC is close to its all-time high - after the next bullrun, Bitcoin's current price may well seem ”cheap” afterward. Especially if giants like Strategy listen to expert's adivice and start acting more aggressively.
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