Love him or hate him, when Arthur Hayes speaks, people listen.
Last week, as a guest on Impact Theory with Tom Bilyeu, Hayes made the case for why he believes Bitcoin (BTC) price will hit $750,000 to $1 million by 2026.
Hayes said,
“I absolutely agree that there is going to be a major financial crisis, probably as bad or worse than the great depression, sometime near the end of the decade, before we get there we’re gonna have, I think, the largest bull market in stocks, real estate, crypto, art, you name it, that we’ve ever seen since WW2.”
Hayes cites the nearly-predictable response of the United States government rushing in to intervene in every economic crisis with a bail out as a key catalyst behind the structural problems in the US economy.
He explained that this essentially creates an endless cycle of central bank printing, which leads to inflation and prevents the economy from going through natural market cycles of growth and correction.
“We all have collectively agreed that the government is there essentially to attempt to remove the business cycle. Like, there should never be bad things that happen to the economy and if there are, we want the government to come in and destroy the free market. So every time we’ve had a financial crisis over the past 80 years. What happens? The government rushes in and they essentially destroy some part of the free market because they want to save the system.”
Let’s take a quick look at a few of the catalysts that Hayes believes will back Bitcoin’s move into six-figure territory.
Mounting debt and out of control inflation.
According to Hayes, mounting government debt, a large amount that needs to be rolled over, and diminishing productivity can only be addressed with money printing. While monetary expansion does lead to bull markets, the consequence tends to be high inflation.
“In the first instance it creates a massive bull market in stocks, crypto, real estate, things that have a fixed supply, maybe they’re productive and have some earnings. But after that, we’re going to find out that, actually, the government can save everything. It can’t…..
