Arthur Hayes, the co-founder of BitMEX and the CIO of Maelstrom family office, has made some bold predictions for the future prices of Bitcoin (BTC) and Ethereum (ETH). He claims that the crypto bull market has started and that the time to buy is now.
Hayes believes that Bitcoin, the leading cryptocurrency by market cap, will reach a staggering $1 million per coin. He also expects Ethereum, the second-largest crypto and the platform for smart contracts and decentralized applications, to skyrocket to $100,000 per coin. This would represent a massive increase of over 4,600% from its current price of around $2,100.
Hayes bases his predictions on the global currency debasement and the increasing adoption of crypto as a reserve asset. He says that Bitcoin and Ethereum are the “crypto’s reserve assets” and that “everything else is a sh*tcoin”. He also acknowledges that there are other opportunities in the crypto space, such as layer-one blockchains like Solana and various decentralized applications and their tokens, but he warns that they are risky and overhyped.