Arthur Hayes, former CEO of BitMEX, predicts that Bitcoin will be significantly higher than its current price of $113,000 by 2028, but he dismisses the $3.4 million price target as overly optimistic. In a recent blog post, Hayes suggested that oncoming money printing under the Trump administration could drive Bitcoin prices to new heights, emphasizing the historical relationship between credit growth and Bitcoin appreciation. He acknowledged that while his calculations indicated potential for the $3.4 million mark based on previous trends, he does not believe Bitcoin will actually reach that figure. Instead, he anticipates it will exceed today's prices significantly, driven by expected fiscal policies and changes in credit allocation. This aligns with broader market sentiments about liquidity conditions and growing interest in Bitcoin as a hedge against inflation. However, not all analysts agree with Hayes' perspective, with some criticizing the liquidity arguments as lacking substance. Overall, while Hayes remains optimistic about Bitcoin's price growth, he urges caution regarding extreme forecasts.

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