Key points:
Bitcoin will be “markedly higher” by 2028, Arthur Hayes said, but $3.4 million per coin is too bullish.
BTC price increases from credit growth may not match past performance.
US money printing is back with the Trump administration, opening the path to BTC price expansion.
Bitcoin (BTC) will trade “markedly higher” than its current $113,000 by 2028, said former BitMEX CEO Arthur Hayes.
In his latest blog post, “Four, Seven,” released Tuesday, Hayes sees money printing taking BTC price action to new records.
Hayes sees BTC price “markedly higher”
US money printing under the President Donald Trump administration will be what launches Bitcoin into the stratosphere in just three years, Hayes said.
Trump aims to “preserve the fruits of the supposed empire for the ruling class,” something attempted by US presidents before him.
“Today, another war against a more united, prosperous, and militarily strong Eurasia (Russia, China, India, and Iran) requires a drastic change in credit allocation,” Hayes said.
“And therefore, I proclaim with extreme confidence regarding money printing, these crackers ain’t playin’.”
To do this, Trump needs to gain sway over the Federal Reserve, with his placements steering monetary policy toward money printing via a potential deal with the US Treasury. The ongoing debacle involving Fed governor Lisa Cook, appointed by the previous administration, is just the start.
“The point is, do not doubt that team Trump will use all the tricks in the book to print the money this transformation of America requires,” the post continued.
Hayes goes on to consider how Bitcoin might react. While estimating actual prices is next to impossible, previous experience hints at a seismic shift in the BTC price.
“The slope of the percentage increase in Bitcoin to a dollar of credit growth was ~0.19. Ladies and gentlemen, that results in a 2028 Bitcoin price prediction of $3.4 million!” he calculated.
“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.”
How high is too high for Bitcoin?
Hayes is no stranger to BTC price targets, with seven-digit forecasts becoming a regular feature of his musings on the world’s economic future.
Related: Bitcoin price $150K target comes as analyst sees weeks to all-time highs
Pardoned by Trump in March, Hayes previously eyed a $1 million price tag by 2028 due to international capital controls and “repatriation” of foreign wealth.
Last week, along with repeating the $1 million figure on X, Hayes tipped Treasury liquidity conditions as a reason to expect a mass surge across crypto markets next.
Not everyone agreed. Andre Dragosch, European head of research at crypto asset manager Bitwise, called the liquidity argument a “useless banana.”
As Coinpectra continues to report, market expectations for easier financial conditions remain high, with the Fed tipped to cut interest rates again at its October meeting.
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.