Arthur Hayes: Bitcoin Could Reach One Million Dollars by 2030, but Ethereum is My Top Choice

Arthur Hayes, co-founder of BitMEX, believes that Bitcoin could reach a price of one million dollars by 2030. He cites the significant increase in liquidity, the potential for expansionary monetary policies in the U.S., and the bursting of the artificial intelligence bubble as factors that could pave the way for Bitcoin to reach this goal.

According to Mihan Blockchain, however, Hayes considers Ethereum to be a more attractive investment option under current conditions. He believes that Ethereum could multiply by 3 to 5 times in a short period, while he is no longer confident about the growth potential of Hyperliquid.

In the latest episode of the "Trade Secrets" podcast, Hayes reiterated his very bullish outlook on the future of Bitcoin, stating that this cryptocurrency could reach the range of one million dollars by 2030.

In his view, the market is on the brink of a period where increased liquidity could play a significant role in the growth of high-risk assets. Hayes specifically pointed to the potential bursting of the artificial intelligence bubble, extensive money printing, and the likelihood of implementing Yield Curve Control in the U.S. bond market.

He commented on the current market conditions:

We have the necessary raw materials. The time is now.

Hayes also believes that the recent bottom for Bitcoin has formed around 58,000 dollars and that the market can gradually continue its upward trajectory from here.

This prediction comes at a time when some analysts disagree with it. Markus Thielen, head of research at 10x Research, recently deemed the price of Bitcoin reaching one million dollars by 2030 as "mathematically impossible." His argument is that for such a leap, Bitcoin would need to attract trillions of dollars in new investment over the next four years, a figure that is far from the capital inflow trend of the past 15 years.

Despite Hayes' optimism about Bitcoin, his view on Hyperliquid has changed compared to the past. He believes that this project is no longer an unknown asset with the potential to surprise the market, and investor expectations for it have significantly increased.

Hayes stated:

I don't think Hyperliquid has such an asymmetry at the current price. Everyone knows Hyperliquid is here, and now there are very high expectations for it.

In his opinion, this does not necessarily mean a halt to the growth of HYPE, but there are more attractive options in the market in terms of risk-to-reward ratios.

This perspective comes at a time when Donald Trump, the President of the United States, recently announced the country's efforts to bring the Hyperliquid platform to the U.S. However, Hayes believes that the impact of Trump's statements on cryptocurrency prices should not be taken too seriously.

He advised investors to focus on the performance of the Treasury Department, the Federal Reserve, and other monetary institutions instead of the President's statements, as monetary policies ultimately have a much greater impact on Bitcoin prices.

Setting aside Hyperliquid, Hayes currently considers Ethereum to be his number one choice in the cryptocurrency market. He believes that if there is capital to enter the market, Ethereum offers a more attractive risk-to-reward ratio compared to HYPE.

Regarding Ethereum's outlook, Hayes said:

I think Ethereum can multiply by 3 to 5 times very quickly.

One reason for this view is Ethereum's weaker performance compared to other major cryptocurrencies. According to Hayes, Ethereum is the only major cryptocurrency in the market that has not yet surpassed its all-time high from 2021.

Hayes remarked:

Everyone hates it. Ethereum is the only major cryptocurrency that has not crossed its all-time high from 2021.

In his view, this neglect, while Ethereum remains one of the most important infrastructures in DeFi, could ultimately turn into an opportunity for growth. Hayes believes that after a long period of underperformance, Ethereum can now regain investors' attention.

He also pointed to Ethereum's approximately 20% growth alongside Bitcoin's surge, viewing it as a sign of this cryptocurrency's readiness for better performance.

In another part of his remarks, Hayes addressed BitMEX's decision to cease operations on September 23. The exchange has asked users to close their trading positions and withdraw their assets before this date.

The co-founder of BitMEX expressed that he feels "very good" about the platform being able to end its operations on its own terms. He emphasized that BitMEX is not shutting down due to a hack or a security crisis, but rather the team has decided to halt its operations while it still has control over the situation.

Hayes also believes that competition in the cryptocurrency exchange market has become so intense that launching and operating an exchange without a very large scale is no longer economically viable. He stated that the costs of security, technological infrastructure, and data center operations have made this business effectively a field where only large companies like Binance and OKX can compete.