Arthur Hayes, former CEO of crypto exchange BitMEX, has once again reiterated his bold prediction that Bitcoin will reach $1 million by 2028.
According to blockchain media outlet CoinPost on May 16, Hayes had previously gained attention for accurately forecasting a rebound after Bitcoin dipped to around $74,000 last month.
Hayes believes that Donald Trump's economic policies, combined with global instability, will accelerate investor flight from what has long been considered the safest asset — U.S. Treasuries.
He stated, “The scarcity of foreign capital and the decline in the value of U.S. government bonds will be the two catalysts that push Bitcoin to $1 million by 2028. Now, under a Bitcoin-friendly Trump administration, is the perfect time to invest.”
Chris Kuiper, Vice President of Research at Fidelity Digital Assets, echoed this sentiment at a recent Bitcoin conference, saying that over the past 100 years, U.S. bondholders have not gained real returns when factoring in inflation and taxes.
Hayes also pointed out that as financial markets become increasingly fragmented between nations, Bitcoin could serve as a key tool for transferring value across those fractured zones. “As long as the internet exists, fiat currencies can be converted into Bitcoin,” he said, noting that even in China, where centralized exchanges are practically banned, OTC (over-the-counter) markets continue to provide liquidity.
Furthermore, he argued that if just 10% of the roughly $33 trillion in U.S. assets held by global institutional investors were to flow into Bitcoin, the price could surge by over 10x. Given Bitcoin’s current market cap and supply, such capital inflow could trigger unprecedented buying pressure driven by margin trading — potentially turning the $1 million price target into a reality.
Arthur Hayes is well known for his provocative market outlooks. His consistent optimism toward the crypto market, especially Bitcoin, stems from a mix of data-driven interpretation, strategic positioning as a market participant, and deep personal conviction.
He argues that central banks, including the Federal Reserve, are losing credibility with their monetary policies — which in turn increases demand for scarce, decentralized assets like Bitcoin. More than just a speculative asset, Hayes sees Bitcoin as a true alternative to the current monetary system and a cornerstone of future finance.
He particularly warns that the rise of Central Bank Digital Currencies (CBDCs) could threaten individual financial freedom, further boosting interest in decentralized alternatives. For years, Arthur Hayes has been a loud voice for the “$1 million Bitcoin era,” and despite the radical nature of his statements, he continues to wield strong influence within the crypto investor community.
