Bitmex cofounder and former CEO Arthur Hayes has predicted cryptocurrency prices will rise under both the Donald Trump and Kamala Harris administrations due to increased money printing. He added that bitcoin’s price could soar to “hundreds of thousands of dollars, maybe $1 million.”
Arthur Hayes Predicts Your Crypto Will Rise With Trump or Harris — Bitcoin to Go 'Very, Very High'
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Arthur Hayes Predicts Aggressive Financial Measures and Soaring Crypto Prices
Arthur Hayes, cofounder and former CEO of cryptocurrency exchange Bitmex, has shared his prediction about the crypto industry and his view on the interplay between politics and financial markets.
In an article published on Aug. 7, Hayes discussed how politicians might secure re-election during a market downturn, such as by printing money and manipulating prices. Using Democratic presidential nominee Kamala Harris as an example, he suggested she would take aggressive measures to prevent a financial crisis. Hayes also explored a potential global financial crisis from Japan Inc.’s yen carry trade unwinding, noting that Harris would likely instruct U.S. Treasury Secretary Janet Yellen to use monetary tools to avert the crisis.
Hayes believes crypto prices will rise regardless of whether Donald Trump or Kamala Harris is in office, he told DL News on Monday. “Yes, crypto donates a lot of money. But I don’t think you’ve donated enough to outpace a JPMorgan, a Morgan Stanley, a Citibank, [or] a Goldman Sachs. And if you think about who is staffed at all of these agencies, it’s all people who came from these banks. So while it’d be great if Trump got elected and he did all these things, I think he might run into the same problem he ran into his first term,” he explained.
The Bitmex cofounder proceeded to share his prediction:
Both the Trump administration or Harris administration will print the money. They do it in different ways. But the money will be printed. And so your crypto is going to go up — the path could be very wonky, but at the end of the day, we know where it’s going.
“The bitcoin price in this cycle is going to go very, very high — hundreds of thousands of dollars, maybe $1 million,” the former Bitmex executive added. “There’s so much debt that needs to be rolled over. We’re entering a period where the global monetary architecture is completely changing.”
What do you think about Arthur Hayes’ predictions regarding the crypto market and the influence of political measures? Let us know in the comments section below.
