Arthur Hayes: Here's Why Bitcoin Will Reach $3.2 Million

Arthur Hayes, founder of the BitMEX crypto exchange and investment director of the Maelstrom fund, predicted that Bitcoin could reach $3.2 million by 2028. The entrepreneur believes that the growing supply shortage and rapidly growing demand for the world's first cryptocurrency will fuel this growth.

Arthur Hayes assured that his assessment is based on mathematics. With a fixed supply limit of 21 million BTC, increased mass adoption and investment from large corporations will push the price of the world's leading cryptocurrency to levels previously considered unattainable.

“It's important to understand that we're witnessing a fundamental shift in the way Bitcoin is used. Previously, cryptocurrency was viewed as a speculative asset, but now it's increasingly perceived as a store of value and a hedge against inflation. Mass adoption among companies and institutional investors is accelerating this process,” the businessman explained.

It's important to look at the numbers, not emotions, he added. Analyzing current storage volumes, institutional investment, and the pace of mining development, the deficit will grow exponentially—all the conditions for Bitcoin's long-term growth are in place, the entrepreneur concluded.

Arthur Hayes previously stated that Bitcoin investors would be best advised to abandon hopes of making a quick profit from their investments in the first cryptocurrency.

Source: cryptonews.net