Bitcoin $96,937BitMEX founder Arthur Hayes, who made striking statements about the future of (BTC), predicts that BTC will rise above $ 100,000 due to increased money printing around the world. Hayes stated that Bitcoin could reach one million dollars in the next five years. Bitcoin is currently trading at $95,026.
The Rise of Bitcoin and the Role of Money Printing
In his interview with Blockmedia, Arthur Hayes stated that Bitcoin could reach $100,000 by the end of the year. “The birth of Bitcoin in 2009 was the result of a major financial crisis,” Hayes said. Today, the same economic problems are growing again. Expanding the money supply will cause Bitcoin to rise. “I believe BTC will reach one million dollars in five years,” he said.
Emphasizing that the tendency to print money in the global economy offers a great opportunity for Bitcoin, Hayes said that major economies such as the USA, the European Union, China, Japan and South Korea are turning to money printing to manage their debts. This process, according to Hayes, will increase the value of scarce assets such as Bitcoin.
Global Economic Challenges Support Bitcoin
Hayes said many governments were unable to cut spending to deal with economic problems. The increasing debt burden forced central banks to print money. “Tax increases could lead to public outcry,” Hayes said. “That’s why governments prefer to print money,” he said.
Supporting Bitcoin’s performance with past examples, Hayes stated that BTC has been the best performing asset since 2009. The fact that cryptocurrencies have increased from almost worthless to a market value of nearly two trillion dollars during this period proves his rightness. Hayes argued that Bitcoin could rise further as the expansion in the money supply continues.
Stating that the world economy is going through difficult processes, Hayes stated that Bitcoin will stand out as a safe haven in this process. Bitcoin’s current price movements also seem to confirm Hayes’ predictions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
