BitMEX Founder Projects $750K to $1 Million Bitcoin Price by 2026

Arthur Hayes, the co-founder and former CEO of BitMEX, one of the largest cryptocurrency derivatives exchanges in the world, has made a bold prediction about the future price of Bitcoin (BTC).

In a blog post published on Monday, Hayes said that he expects Bitcoin to reach a price range of $750,000 to $1 million by 2026, based on his analysis of the supply and demand dynamics of the market.

Hayes argued that Bitcoin is a scarce asset that has a fixed supply of 21 million coins, unlike fiat currencies that can be printed at will by central banks. He said that as more people adopt Bitcoin as a store of value and a medium of exchange, the demand for the cryptocurrency will increase, while the supply will remain constant.

He also said that Bitcoin is a hedge against inflation and currency devaluation, which are likely to worsen in the coming years due to the massive stimulus measures taken by governments and central banks in response to the COVID-19 pandemic.

Hayes cited several factors that could drive the adoption and demand for Bitcoin, such as:

The emergence of Bitcoin exchange-traded funds (ETFs) and other regulated products that would make it easier for institutional and retail investors to access the market.
The development of layer-2 solutions and sidechains that would improve the scalability and usability of Bitcoin, enabling faster and cheaper transactions.
The innovation and competition in the crypto industry that would create new use cases and value propositions for Bitcoin, such as decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, and metaverse.
The social and political unrest in many parts of the world that would increase the demand for a censorship-resistant and permissionless form of money.
Hayes acknowledged that his prediction is based on several assumptions and uncertainties, and that there are many risks and challenges facing the crypto industry, such as regulation, hacking, fraud, and technical issues. He also said that his projection is not financial advice and that he is not a financial advisor.

However, he said that he is confident in his vision and that he is betting on it with his own money. He said that he has been buying Bitcoin every month since he left BitMEX in 2020, following charges by the U.S. authorities for violating anti-money laundering laws.

He also said that he plans to launch a new venture in 2022 that would focus on bringing crypto to emerging markets, especially in Africa and Asia. He said that he believes these regions have the most potential for crypto adoption and innovation.

“I am extremely bullish on Africa broadly because it is not encumbered by legacy financial institutions trying to protect their market share,” he wrote. “The people who need crypto the most will be the ones who ultimately benefit from it.”

Hayes concluded his post by saying that he is optimistic about the future of Bitcoin and crypto, and that he hopes to see more people join him in his journey.

“Bitcoin changed my life, and I have dedicated my resources to enable others to share in my vision,” he wrote. “See you at $1 million.”

His blogs can be found at:
https://cryptohayes.substack.com/