In any case, what are everyone's arguments on Arthur's prediction? This appears to be very impossible under Trump's administration.
Bitcoin will soar as high as $1 million as US President-elect Donald Trump’s economic policies will create the “most fiat money in history.”
That’s according to BitMEX co-founder Arthur Hayes, who says Bitcoin is poised to outperform other asset classes amid the inevitability of the US spending trillions of dollars to service its debt.
“As the freely traded supply of Bitcoin dwindles, the most fiat money in history will be chasing a safe haven from not just Americans but Chinese, Japanese, and Western Europe,” Hayes wrote on his blog on Tuesday.
Bitcoin surged to $67,000 on the $4 trillion stimulus package spent during Covid. It was $3,800 at the start of the pandemic ― nearly an 18-fold increase.
Hayes anticipates a similar parabolic surge for Bitcoin if Trump injects $10.5 trillion in stimulus spending to bring the country’s debt back to 2008 levels.
“This is how Bitcoin goes to $1 million,” Hayes wrote.
Read in full https://www.dlnews.com/articles/markets/arthur-hayes-bitcoin-to-1m-us-stimulus-injection/